Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) CEO John C. Wobensmith sold 45,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $25.15, for a total value of $1,131,750.00. Following the transaction, the chief executive officer now directly owns 399,099 shares in the company, valued at $10,037,339.85. The sale was disclosed in a document filed with the SEC, which is available at this link.
Genco Shipping & Trading stock traded down $0.04 during trading hours on Friday, reaching $25.18. The company had a trading volume of 1,246,681 shares, compared to its average volume of 1,068,097. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.78 and a quick ratio of 2.16. Genco Shipping & Trading Limited has a 12-month low of $13.21 and a 12-month high of $26.00. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 4.85 and a beta of 0.85. The company has a 50-day moving average price of $22.89 and a 200 day moving average price of $18.84.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last posted its earnings results on Thursday, February 24th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.10. Genco Shipping & Trading had a return on equity of 25.50% and a net margin of 37.21%. The firm had revenue of $146.67 million for the quarter, compared to analysts’ expectations of $129.28 million. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, research analysts expect that Genco Shipping & Trading Limited will post 4.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Stockholders of record on Monday, May 16th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, May 13th. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.67. This represents a $3.16 annualized dividend and a dividend yield of 12.55%. Genco Shipping & Trading’s payout ratio is 60.89%.
Several institutional investors and hedge funds have recently bought and sold shares of GNK. BlackRock Inc. increased its stake in shares of Genco Shipping & Trading by 4.6% during the third quarter. BlackRock Inc. now owns 2,333,475 shares of the shipping company’s stock valued at $46,972,000 after buying an additional 103,063 shares during the period. Barclays PLC boosted its position in shares of Genco Shipping & Trading by 309.6% during the third quarter. Barclays PLC now owns 16,656 shares of the shipping company’s stock valued at $335,000 after purchasing an additional 12,590 shares in the last quarter. Citigroup Inc. boosted its position in shares of Genco Shipping & Trading by 13.4% during the third quarter. Citigroup Inc. now owns 17,825 shares of the shipping company’s stock valued at $359,000 after purchasing an additional 2,102 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Genco Shipping & Trading by 558.7% during the third quarter. Goldman Sachs Group Inc. now owns 637,611 shares of the shipping company’s stock valued at $12,835,000 after purchasing an additional 540,813 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Genco Shipping & Trading by 17.5% during the third quarter. American Century Companies Inc. now owns 27,373 shares of the shipping company’s stock valued at $551,000 after purchasing an additional 4,079 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. B. Riley raised their price objective on Genco Shipping & Trading from $27.00 to $31.00 in a report on Friday, May 6th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Wednesday, February 2nd. Jefferies Financial Group initiated coverage on Genco Shipping & Trading in a research note on Wednesday, April 27th. They issued a “buy” rating on the stock. Zacks Investment Research cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, StockNews.com raised Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.
Genco Shipping & Trading Company Profile (Get Rating)
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.
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