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 Genco Shipping & Trading stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction 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 represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Genco Shipping & Trading Stock Up 1.6 %

Shares of NYSE GNK opened at $14.43 on Thursday. The stock has a market cap of $616.78 million, a P/E ratio of 8.24, a P/E/G ratio of 5.64 and a beta of 0.97. The firm has a 50 day moving average price of $14.29 and a 200 day moving average price of $16.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading Limited has a 52-week low of $13.51 and a 52-week high of $23.43.

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

Genco Shipping & Trading Cuts Dividend

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.32%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 68.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GNK. Jefferies Financial Group lowered their price target on shares of 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. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,782,000 after buying an additional 33,949 shares during the period. Vident Advisory LLC boosted its holdings in shares of Genco Shipping & Trading by 20.7% in the fourth quarter. Vident Advisory LLC now owns 31,904 shares of the shipping company’s stock valued at $445,000 after buying an additional 5,476 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Genco Shipping & Trading by 55.8% in the fourth quarter. Squarepoint Ops LLC now owns 198,673 shares of the shipping company’s stock valued at $2,770,000 after buying an additional 71,122 shares during the period. Teza Capital Management LLC boosted its holdings in shares of Genco Shipping & Trading by 792.0% in the fourth quarter. Teza Capital Management LLC now owns 110,520 shares of the shipping company’s stock valued at $1,541,000 after buying an additional 98,130 shares during the period. Finally, Sherbrooke Park Advisers LLC boosted 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 valued at $575,000 after buying an additional 25,968 shares during the period. Institutional investors and hedge funds 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.