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 the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares in the company, valued at $800,215.12. The trade was a 19.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK traded up $0.30 during midday trading on Tuesday, reaching $14.18. The stock had a trading volume of 757,177 shares, compared to its average volume of 487,427. The stock has a 50-day moving average of $14.29 and a 200-day moving average of $16.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The company has a market capitalization of $606.09 million, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Genco Shipping & Trading Limited has a 12-month low of $13.51 and a 12-month high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27). The company had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. As a group, research analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 8.47%. Genco Shipping & Trading’s payout ratio is 68.57%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNK. StockNews.com downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group reduced 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 note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Hedge Funds Weigh In On Genco Shipping & Trading

Institutional investors and hedge funds have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in shares of Genco Shipping & Trading in the 4th quarter worth $28,000. R Squared Ltd bought a new stake in Genco Shipping & Trading during the 4th quarter valued at $29,000. New Age Alpha Advisors LLC bought a new stake in Genco Shipping & Trading during the 4th quarter valued at $56,000. Quarry LP raised its position in shares of Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after acquiring an additional 3,595 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Genco Shipping & Trading in the 3rd quarter worth $202,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

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.