Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Given New $15.00 Price Target at Morgan Stanley

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) had its target price lifted by Morgan Stanley from $13.00 to $15.00 in a research report sent to investors on Monday morning. Morgan Stanley currently has an equal weight rating on the shipping company’s stock.

GNK has been the topic of a number of other research reports. Jefferies Group assumed coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, December 18th. They set a buy rating and a $20.00 price target on the stock. Evercore ISI assumed coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, November 20th. They set an outperform rating and a $15.00 price target on the stock. ValuEngine lowered shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a hold rating to a sell rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a hold rating to a sell rating in a report on Wednesday, January 3rd. Finally, Noble Financial assumed coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Friday, January 12th. They set a buy rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $16.14.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (NYSE GNK) opened at $12.87 on Monday. Genco Shipping & Trading Limited Ordinary Shares New has a 52-week low of $8.47 and a 52-week high of $15.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market cap of $429.58, a P/E ratio of -2.50 and a beta of 0.19.

In other news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $13.11, for a total transaction of $4,201,256.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the fourth quarter worth $145,000. BlackRock Inc. raised its stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 3.3% during the fourth quarter. BlackRock Inc. now owns 360,245 shares of the shipping company’s stock worth $4,798,000 after buying an additional 11,399 shares during the last quarter. Wells Fargo & Company MN raised its stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 2,064.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock worth $154,000 after buying an additional 11,063 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the fourth quarter worth $163,000. Finally, EAM Investors LLC bought a new position in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the third quarter worth $486,000. 57.26% of the stock is owned by institutional investors and hedge funds.

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Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) Company Profile

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 ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

Analyst Recommendations for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK)

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