Genco Shipping & Trading Limited (NYSE:GNK) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $8.05 and last traded at $8.23, with a volume of 14871 shares. The stock had previously closed at $8.47.
GNK has been the subject of several research analyst reports. Noble Financial reissued a “buy” rating on shares of Genco Shipping & Trading in a research note on Thursday, October 11th. MED reissued a “reduce” rating on shares of Genco Shipping & Trading in a research note on Tuesday, October 9th. B. Riley initiated coverage on Genco Shipping & Trading in a research note on Thursday, October 4th. They set a “buy” rating and a $22.00 target price for the company. Finally, ValuEngine downgraded Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.36.
The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $342.32 million, a P/E ratio of -6.27 and a beta of 0.43.
Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, November 7th. The shipping company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The firm had revenue of $92.26 million during the quarter, compared to the consensus estimate of $61.91 million. Genco Shipping & Trading had a positive return on equity of 1.11% and a negative net margin of 14.73%. As a group, equities research analysts anticipate that Genco Shipping & Trading Limited will post 0.61 earnings per share for the current fiscal year.
In other news, CEO John C. Wobensmith sold 12,210 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $12.73, for a total transaction of $155,433.30. Following the sale, the chief executive officer now directly owns 267,142 shares in the company, valued at $3,400,717.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John C. Wobensmith sold 20,817 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $12.24, for a total value of $254,800.08. Following the sale, the chief executive officer now owns 267,142 shares in the company, valued at $3,269,818.08. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC bought a new stake in Genco Shipping & Trading in the third quarter valued at approximately $109,000. SG Americas Securities LLC bought a new position in shares of Genco Shipping & Trading during the 2nd quarter worth approximately $146,000. Russell Investments Group Ltd. bought a new position in shares of Genco Shipping & Trading during the 2nd quarter worth approximately $163,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Genco Shipping & Trading during the 3rd quarter worth approximately $182,000. Finally, Prudential Financial Inc. bought a new position in shares of Genco Shipping & Trading during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds own 88.20% of the company’s stock.
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About Genco Shipping & Trading (NYSE:GNK)
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, such as commodities traders; producers; and government-owned entities.
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