Genco Shipping & Trading Limited (NYSE:GNK) Insider Sells $189,883.92 in Stock

Genco Shipping & Trading Limited (NYSE:GNK) insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares of the company’s stock, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK opened at $14.35 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The firm has a market capitalization of $613.41 million, a PE ratio of 8.20, a P/E/G ratio of 5.64 and a beta of 0.97. Genco Shipping & Trading Limited has a 1-year low of $13.51 and a 1-year high of $23.43. The business’s fifty day moving average price is $14.30 and its two-hundred day moving average price is $16.04.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). The firm had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. On average, research analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.36%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 68.57%.

Hedge Funds Weigh In On Genco Shipping & Trading

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pekin Hardy Strauss Inc. bought a new stake in Genco Shipping & Trading during the 3rd quarter valued at $812,000. Charles Schwab Investment Management Inc. raised its stake in shares of Genco Shipping & Trading by 70.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock valued at $10,345,000 after purchasing an additional 219,907 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Genco Shipping & Trading by 155.0% in the third quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock worth $5,559,000 after purchasing an additional 173,270 shares during the period. Barclays PLC grew its position in Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company’s stock valued at $2,016,000 after buying an additional 86,147 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new position in Genco Shipping & Trading during the 3rd quarter valued at about $661,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on GNK shares. StockNews.com downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group lowered their price objective on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Genco Shipping & Trading presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.