Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) CAO Joseph Adamo sold 6,340 shares of Genco Shipping & Trading stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $23.67, for a total value of $150,067.80. Following the completion of the sale, the chief accounting officer owned 38,519 shares of the company's stock, valued at $911,744.73. The trade was a 14.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Joseph Adamo also recently made the following trade(s):
- On Wednesday, February 18th, Joseph Adamo sold 3,227 shares of Genco Shipping & Trading stock. The shares were sold at an average price of $23.27, for a total transaction of $75,092.29.
Genco Shipping & Trading Stock Performance
Shares of NYSE GNK opened at $23.67 on Tuesday. The firm's 50-day moving average price is $20.05 and its 200-day moving average price is $18.35. Genco Shipping & Trading Limited has a 52-week low of $11.20 and a 52-week high of $24.10. The company has a market cap of $1.03 billion, a PE ratio of -215.18, a PEG ratio of 5.49 and a beta of 1.21. The company has a quick ratio of 1.84, a current ratio of 2.39 and a debt-to-equity ratio of 0.21.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The shipping company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The company had revenue of $109.92 million for the quarter, compared to the consensus estimate of $78.52 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.
Genco Shipping & Trading Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 11th will be paid a $0.50 dividend. This is an increase from Genco Shipping & Trading's previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.4%. Genco Shipping & Trading's dividend payout ratio (DPR) is -1,818.18%.
Analyst Upgrades and Downgrades
GNK has been the topic of a number of recent research reports. Alliance Global Partners downgraded Genco Shipping & Trading from a "buy" rating to a "neutral" rating in a report on Thursday, February 19th. Wall Street Zen lowered shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Sunday, December 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Genco Shipping & Trading in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Genco Shipping & Trading from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $21.00.
Read Our Latest Research Report on Genco Shipping & Trading
Institutional Trading of Genco Shipping & Trading
A number of hedge funds and other institutional investors have recently bought and sold shares of GNK. PNC Financial Services Group Inc. raised its stake in shares of Genco Shipping & Trading by 82.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company's stock worth $25,000 after buying an additional 876 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Genco Shipping & Trading in the 3rd quarter worth approximately $30,000. Advisory Services Network LLC bought a new stake in Genco Shipping & Trading during the 3rd quarter worth approximately $30,000. Strengthening Families & Communities LLC purchased a new position in Genco Shipping & Trading during the fourth quarter valued at approximately $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Genco Shipping & Trading in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 58.62% of the company's stock.
About Genco Shipping & Trading
(
Get Free Report)
Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company's fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco's focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.
In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.
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