Genco Shipping & Trading Limited (NYSE:GNK) CFO Sells $125,416.64 in Stock

Genco Shipping & Trading Limited (NYSE:GNK) CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the sale, the chief financial officer now owns 45,251 shares of the company’s stock, valued at approximately $631,703.96. This trade represents a 16.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Genco Shipping & Trading Stock Down 0.7 %

Shares of GNK stock opened at $14.35 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. Genco Shipping & Trading Limited has a one year low of $13.51 and a one year high of $23.43. The company’s fifty day moving average price is $14.30 and its 200-day moving average price is $16.04. The company has a market capitalization of $613.41 million, a price-to-earnings ratio of 8.20, a PEG ratio of 5.64 and a beta of 0.97.

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). The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. Sell-side analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.36%. Genco Shipping & Trading’s dividend payout ratio is presently 68.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GNK. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Jefferies Financial Group decreased their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Genco Shipping & Trading presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Genco Shipping & Trading by 36.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,852 shares of the shipping company’s stock worth $1,782,000 after buying an additional 33,949 shares in the last quarter. Vident Advisory LLC lifted its stake in Genco Shipping & Trading by 20.7% in the 4th quarter. Vident Advisory LLC now owns 31,904 shares of the shipping company’s stock worth $445,000 after purchasing an additional 5,476 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Genco Shipping & Trading by 55.8% during the 4th quarter. Squarepoint Ops LLC now owns 198,673 shares of the shipping company’s stock valued at $2,770,000 after purchasing an additional 71,122 shares during the last quarter. Teza Capital Management LLC grew its position in shares of Genco Shipping & Trading by 792.0% during the fourth quarter. Teza Capital Management LLC now owns 110,520 shares of the shipping company’s stock valued at $1,541,000 after purchasing an additional 98,130 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC increased its holdings in shares of Genco Shipping & Trading by 170.3% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 41,219 shares of the shipping company’s stock worth $575,000 after purchasing an additional 25,968 shares during the last quarter. 58.62% of the stock is currently owned by institutional investors.

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.