Jesper Christensen Sells 13,602 Shares of Genco Shipping & Trading Limited (NYSE:GNK) Stock

Genco Shipping & Trading Limited (NYSE:GNK) insider Jesper Christensen sold 13,602 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the transaction, the insider now owns 57,322 shares in the company, valued at $800,215.12. This represents a 19.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Genco Shipping & Trading Stock Up 2.1 %

GNK traded up $0.30 during midday trading on Tuesday, reaching $14.18. The company’s stock had a trading volume of 757,177 shares, compared to its average volume of 487,427. The firm has a market capitalization of $606.09 million, a price-to-earnings ratio of 8.10, a PEG ratio of 5.64 and a beta of 0.97. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 1 year low of $13.51 and a 1 year high of $23.43. The stock’s 50-day moving average is $14.29 and its 200-day moving average is $16.05.

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

Genco Shipping & Trading Cuts Dividend

The company 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading’s payout ratio is 68.57%.

Analyst Ratings Changes

GNK has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Investors Weigh In On Genco Shipping & Trading

Institutional investors have recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in Genco Shipping & Trading during the fourth quarter valued at approximately $29,000. New Age Alpha Advisors LLC bought a new position in Genco Shipping & Trading during the fourth quarter valued at approximately $56,000. Quarry LP lifted its position in Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 3,595 shares during the period. Finally, Mariner LLC bought a new position in Genco Shipping & Trading during the fourth quarter valued at approximately $147,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

About Genco Shipping & Trading

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.