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

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

Genco Shipping & Trading Stock Performance

Shares of GNK opened at $14.35 on Friday. The company has a 50-day moving average of $14.30 and a two-hundred day moving average of $16.04. The stock has a market cap of $613.41 million, a price-to-earnings ratio of 8.20, a PEG ratio of 5.64 and a beta of 0.97. 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.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $67.36 million. On average, equities research analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 8.36%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 68.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Banque Transatlantique SA acquired a new stake in Genco Shipping & Trading during the 4th quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter worth approximately $29,000. New Age Alpha Advisors LLC acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth approximately $56,000. Quarry LP grew 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 in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Genco Shipping & Trading in the 3rd quarter valued at approximately $202,000. 58.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNK has been the topic of several research reports. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group dropped their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a report 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. Based on data from MarketBeat, Genco Shipping & Trading presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

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.