Genco Shipping & Trading Limited (NYSE:GNK) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.63.
Several equities research analysts have recently weighed in on GNK shares. ValuEngine downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Zacks Investment Research cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Noble Financial reiterated a “buy” rating and issued a $18.00 price target on shares of Genco Shipping & Trading in a research note on Tuesday, October 29th.
In related news, Director Strategic Value Partners, Llc sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.00, for a total transaction of $20,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Genco Shipping & Trading by 34.2% during the 2nd quarter. BlackRock Inc. now owns 1,019,806 shares of the shipping company’s stock valued at $8,607,000 after acquiring an additional 260,096 shares during the last quarter. Northern Trust Corp boosted its stake in Genco Shipping & Trading by 6.8% in the 2nd quarter. Northern Trust Corp now owns 131,286 shares of the shipping company’s stock worth $1,108,000 after purchasing an additional 8,364 shares during the period. Rhumbline Advisers boosted its stake in Genco Shipping & Trading by 12.3% in the 3rd quarter. Rhumbline Advisers now owns 20,939 shares of the shipping company’s stock worth $193,000 after purchasing an additional 2,297 shares during the period. Vanguard Group Inc. grew its position in Genco Shipping & Trading by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 309,266 shares of the shipping company’s stock worth $2,611,000 after purchasing an additional 4,284 shares in the last quarter. Finally, Aperio Group LLC purchased a new position in Genco Shipping & Trading during the 2nd quarter worth approximately $28,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.
Genco Shipping & Trading stock traded up $0.16 during trading on Friday, reaching $10.19. 6,005 shares of the company’s stock were exchanged, compared to its average volume of 316,354. Genco Shipping & Trading has a 52-week low of $6.83 and a 52-week high of $11.82. The firm has a market cap of $418.75 million, a price-to-earnings ratio of 15.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.83 and a current ratio of 2.02. The company’s 50-day moving average is $10.53 and its two-hundred day moving average is $9.35.
The company also recently declared a None dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, November 20th. Genco Shipping & Trading’s dividend payout ratio (DPR) is 109.38%.
About Genco Shipping & Trading
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, 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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