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 note issued to investors on Thursday.

GNK has been the topic of several other research reports. TheStreet upgraded Genco Shipping & Trading from a “c” rating to a “b-” rating in a research note on Thursday, February 22nd. BTIG Research restated a “neutral” rating on shares of Genco Shipping & Trading in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genco Shipping & Trading has an average rating of “Hold” and a consensus target price of $20.67.

Genco Shipping & Trading Price Performance

Shares of GNK opened at $20.26 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.70 and a current ratio of 4.46. The stock has a 50 day simple moving average of $19.83 and a 200 day simple moving average of $16.87. Genco Shipping & Trading has a 52-week low of $12.39 and a 52-week high of $21.24. The firm has a market capitalization of $865.71 million, a PE ratio of -65.35 and a beta of 1.18.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, February 21st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Genco Shipping & Trading had a positive return on equity of 3.10% and a negative net margin of 3.35%. The business had revenue of $115.50 million during the quarter, compared to analyst estimates of $72.54 million. During the same period in the previous year, the firm earned $0.67 EPS. Genco Shipping & Trading’s quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side 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 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 owns 17,994 shares in the company, valued at approximately $367,077.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Peter George Allen sold 7,036 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total transaction of $139,312.80. Following the sale, the chief financial officer now owns 35,518 shares in the company, valued at approximately $703,256.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $28,478.40. Following the sale, the chief accounting officer now owns 17,994 shares in the company, valued at approximately $367,077.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,496 shares of company stock worth $1,238,678. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates acquired a new position in Genco Shipping & Trading in the 1st quarter valued at $276,000. Bank of New York Mellon Corp grew its holdings in shares of Genco Shipping & Trading by 17.1% during the 1st quarter. Bank of New York Mellon Corp now owns 173,010 shares of the shipping company’s stock worth $4,085,000 after purchasing an additional 25,300 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Genco Shipping & Trading during the 1st quarter worth $26,000. LSV Asset Management grew its holdings in shares of Genco Shipping & Trading by 85.9% during the 1st quarter. LSV Asset Management now owns 100,900 shares of the shipping company’s stock worth $2,383,000 after purchasing an additional 46,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Genco Shipping & Trading by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company’s stock worth $45,272,000 after purchasing an additional 164,117 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.

About Genco Shipping & Trading

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.