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

Genco Shipping & Trading (NYSE:GNK - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also recently weighed in on GNK. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Jefferies Financial Group restated a "buy" rating and issued a $17.00 price target on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Finally, Pareto Securities upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Genco Shipping & Trading currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

Genco Shipping & Trading Stock Performance

NYSE:GNK opened at $13.95 on Wednesday. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $13.18 and a two-hundred day moving average price of $14.33. Genco Shipping & Trading has a twelve month low of $11.20 and a twelve month high of $23.11. The company has a market capitalization of $599.28 million, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. During the same period in the prior year, the business earned $0.49 earnings per share. Genco Shipping & Trading's revenue for the quarter was down 39.3% on a year-over-year basis. As a group, research analysts expect that Genco Shipping & Trading will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Joseph Adamo sold 6,226 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company's stock, valued at $374,532.84. This represents a 18.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jesper Christensen sold 13,602 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the sale, the insider now directly owns 57,322 shares of the company's stock, valued at $800,215.12. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,812 shares of company stock valued at $402,216. 2.37% of the stock is currently owned by company insiders.

Institutional Trading of Genco Shipping & Trading

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock valued at $2,016,000 after purchasing an additional 86,147 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Genco Shipping & Trading by 830.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock valued at $154,000 after buying an additional 9,847 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Genco Shipping & Trading by 11.8% in the 4th quarter. SG Americas Securities LLC now owns 29,881 shares of the shipping company's stock valued at $417,000 after buying an additional 3,142 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Genco Shipping & Trading by 35.2% in the 4th quarter. Inspire Investing LLC now owns 28,633 shares of the shipping company's stock valued at $399,000 after buying an additional 7,457 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Genco Shipping & Trading by 22.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 33,330 shares of the shipping company's stock worth $465,000 after purchasing an additional 6,150 shares during the period. Institutional investors and hedge funds own 58.62% of the company's stock.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.

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