Genco Shipping & Trading (NYSE:GNK) Shares Up 2.1% – Time to Buy?

Shares of Genco Shipping & Trading Limited (NYSE:GNK) were up 2.1% on Monday . The stock traded as high as $11.95 and last traded at $11.95. Approximately 99,598 shares were traded during trading, a decline of 81% from the average daily volume of 537,221 shares. The stock had previously closed at $11.70.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GNK shares. Pareto Securities raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research report on Monday, March 31st. Jefferies Financial Group lowered their price target on 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. Finally, StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Genco Shipping & Trading Price Performance

The stock has a fifty day moving average of $13.88 and a two-hundred day moving average of $15.24. The stock has a market cap of $537.90 million, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 5.64 and a beta of 0.96. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08.

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

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 9.54%. Genco Shipping & Trading’s dividend payout ratio is currently 68.57%.

Insider Activity at Genco Shipping & Trading

In other news, CAO Joseph Adamo sold 6,226 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at $374,532.84. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter George Allen sold 8,984 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $125,416.64. Following the transaction, the chief financial officer now owns 45,251 shares in the company, valued at $631,703.96. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,812 shares of company stock valued at $402,216. 2.50% of the stock is owned by insiders.

Institutional Trading of Genco Shipping & Trading

Institutional investors and hedge funds have recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in Genco Shipping & Trading in the fourth quarter valued at $28,000. R Squared Ltd purchased a new position in shares of Genco Shipping & Trading in the 4th quarter worth about $29,000. New Age Alpha Advisors LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at about $56,000. GAMMA Investing LLC grew its holdings in shares of Genco Shipping & Trading by 1,119.1% during the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company’s stock worth $60,000 after purchasing an additional 4,096 shares during the period. Finally, Mariner LLC acquired a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $147,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.

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.