Genco Shipping & Trading (NYSE:GNK) Stock Rating Lowered by StockNews.com

Genco Shipping & Trading (NYSE:GNK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other equities research analysts also recently issued reports about the company. BTIG Research reiterated a “neutral” rating on shares of Genco Shipping & Trading in a research report on Friday, January 5th. TheStreet upgraded Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Genco Shipping & Trading Stock Performance

NYSE GNK opened at $20.55 on Thursday. The firm has a market cap of $878.55 million, a price-to-earnings ratio of -66.29 and a beta of 1.18. The company has a quick ratio of 3.70, a current ratio of 4.46 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $19.88 and a 200-day moving average price of $16.89. Genco Shipping & Trading has a twelve month low of $12.39 and a twelve month high of $21.24.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, February 21st. The shipping company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $115.50 million during the quarter, compared to analyst estimates of $72.54 million. Genco Shipping & Trading had a positive return on equity of 3.10% and a negative net margin of 3.35%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts predict that Genco Shipping & Trading will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total transaction of $28,478.40. Following the sale, the chief accounting officer now directly owns 17,994 shares in the company, valued at $367,077.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Joseph Adamo sold 1,396 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total transaction of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares of the company’s stock, valued at $367,077.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Peter George Allen sold 7,036 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total value of $139,312.80. Following the transaction, the chief financial officer now directly owns 35,518 shares in the company, valued at approximately $703,256.40. The disclosure for this sale can be found here. Insiders have sold a total of 62,496 shares of company stock worth $1,238,678 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GNK. Acadian Asset Management LLC bought a new position in Genco Shipping & Trading in the first quarter worth approximately $26,000. Ensign Peak Advisors Inc grew its stake in Genco Shipping & Trading by 53.2% in the third quarter. Ensign Peak Advisors Inc now owns 2,420 shares of the shipping company’s stock worth $30,000 after purchasing an additional 840 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Genco Shipping & Trading by 1,632.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock worth $32,000 after purchasing an additional 2,139 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Genco Shipping & Trading by 114.1% in the third quarter. Tower Research Capital LLC TRC now owns 2,603 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Genco Shipping & Trading in the third quarter worth approximately $34,000. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.