Genco Shipping & Trading Limited (NYSE:GNK) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.63.
Several equities research analysts have recently issued reports on the stock. Noble Financial restated a “buy” rating and issued a $18.00 price objective on shares of Genco Shipping & Trading in a research note on Tuesday, October 29th. ValuEngine cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Zacks Investment Research cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st.
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 stock was sold at an average price of $10.00, for a total transaction of $20,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.32% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Genco Shipping & Trading by 34.2% in the 2nd quarter. BlackRock Inc. now owns 1,019,806 shares of the shipping company’s stock valued at $8,607,000 after purchasing an additional 260,096 shares during the last quarter. State Street Corp boosted its position in Genco Shipping & Trading by 33.4% during the 3rd quarter. State Street Corp now owns 262,614 shares of the shipping company’s stock worth $2,416,000 after acquiring an additional 65,734 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Genco Shipping & Trading during the 2nd quarter worth approximately $452,000. Prudential Financial Inc. grew its stake in shares of Genco Shipping & Trading by 72.6% during the 2nd quarter. Prudential Financial Inc. now owns 78,445 shares of the shipping company’s stock worth $662,000 after acquiring an additional 33,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Genco Shipping & Trading by 121.4% in the second quarter. Wells Fargo & Company MN now owns 52,245 shares of the shipping company’s stock valued at $441,000 after purchasing an additional 28,643 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.
Shares of GNK stock traded up $0.16 during trading hours 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 fifty-two week low of $6.83 and a fifty-two week high of $11.82. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $418.75 million, a P/E ratio of 15.97 and a beta of 1.09. The business has a fifty day moving average price of $10.53 and a 200-day moving average price of $9.35.
The company also recently announced a None dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 20th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 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.
Featured Article: Momentum Indicators
Receive News & Ratings for Genco Shipping & Trading Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genco Shipping & Trading and related companies with MarketBeat.com's FREE daily email newsletter.