Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) insider Robert E. Hughes sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $24.79, for a total transaction of $86,765.00. Following the sale, the insider now owns 742 shares in the company, valued at approximately $18,394.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
GNK stock traded up $0.36 during midday trading on Wednesday, hitting $24.89. The stock had a trading volume of 1,451,099 shares, compared to its average volume of 1,065,943. Genco Shipping & Trading Limited has a 52-week low of $13.21 and a 52-week high of $26.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.78 and a quick ratio of 2.16. The business has a 50-day moving average of $22.71 and a two-hundred day moving average of $18.71. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 4.80 and a beta of 0.85.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last announced its earnings results on Thursday, February 24th. The shipping company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.10. Genco Shipping & Trading had a net margin of 37.21% and a return on equity of 25.50%. The business had revenue of $146.67 million during the quarter, compared to the consensus estimate of $129.28 million. During the same quarter last year, the firm earned $0.22 earnings per share. Research analysts predict that Genco Shipping & Trading Limited will post 4.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 24th. Shareholders of record on Monday, May 16th were paid a dividend of $0.79 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, May 13th. This represents a $3.16 dividend on an annualized basis and a yield of 12.70%. Genco Shipping & Trading’s payout ratio is presently 60.89%.
Several analysts have recently weighed in on GNK shares. Zacks Investment Research lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. StockNews.com raised shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a research note on Wednesday, February 2nd. B. Riley raised their target price on Genco Shipping & Trading from $27.00 to $31.00 in a research note on Friday, May 6th. Finally, Jefferies Financial Group assumed coverage on shares of Genco Shipping & Trading in a research note on Wednesday, April 27th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Genco Shipping & Trading currently has an average rating of “Buy” and a consensus target price of $27.00.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Genco Shipping & Trading by 2.9% in the 4th quarter. BlackRock Inc. now owns 2,401,373 shares of the shipping company’s stock worth $38,422,000 after purchasing an additional 67,898 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Genco Shipping & Trading by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company’s stock worth $45,272,000 after buying an additional 164,117 shares during the last quarter. State Street Corp lifted its stake in shares of Genco Shipping & Trading by 62.7% in the fourth quarter. State Street Corp now owns 1,766,568 shares of the shipping company’s stock worth $28,265,000 after buying an additional 680,853 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Genco Shipping & Trading by 21.3% in the fourth quarter. Millennium Management LLC now owns 1,181,560 shares of the shipping company’s stock worth $18,905,000 after buying an additional 207,637 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Genco Shipping & Trading by 7.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,145,733 shares of the shipping company’s stock worth $18,332,000 after buying an additional 79,385 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
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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