Joseph Adamo Sells 6,340 Shares of Genco Shipping & Trading (NYSE:GNK) Stock

Genco Shipping & Trading Limited (NYSE:GNK) CAO Joseph Adamo sold 6,340 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $23.67, for a total value of $150,067.80. Following the transaction, the chief accounting officer owned 38,519 shares of the company’s stock, valued at approximately $911,744.73. This represents a 14.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Joseph Adamo also recently made the following trade(s):

• On Wednesday, February 18th, Joseph Adamo sold 3,227 shares of Genco Shipping & Trading stock. The stock was sold at an average price of $23.27, for a total value of $75,092.29.

Genco Shipping & Trading Stock Up 0.4%

Shares of Genco Shipping & Trading stock opened at $23.73 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $20.16 and its two-hundred day simple moving average is $18.40. The company has a market cap of $1.03 billion, a P/E ratio of -215.73, a PEG ratio of 5.41 and a beta of 1.21. Genco Shipping & Trading Limited has a 12-month low of $11.20 and a 12-month high of $24.10.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The firm had revenue of $109.92 million during the quarter, compared to analysts’ expectations of $78.52 million. During the same period last year, the company posted $0.29 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Wednesday, March 11th. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.15. Genco Shipping & Trading’s payout ratio is presently -545.45%.

Key Stories Impacting Genco Shipping & Trading

Here are the key news stories impacting Genco Shipping & Trading this week:

• Positive Sentiment: Quarterly results beat expectations — Genco reported $0.39 EPS (vs. $0.35 consensus) and revenue of $109.9M (well above ~$78.5M est.), signaling stronger shipping demand and improving top-line. This earnings/revenue surprise is a primary driver supporting the stock. MarketBeat: GNK earnings and summary
• Positive Sentiment: Large dividend increase — the board raised the quarterly payout to $0.50 (annualized $2.00; ~8.4% yield), boosting income appeal for yield-seeking investors and likely attracting demand into the shares ahead of the ex-dividend date (Mar 11). MarketBeat: Dividend increase
• Neutral Sentiment: Analyst views and valuation remain mixed — recent downgrades and some upgrades leave consensus somewhat split (average target near $21.00); this creates both upside from positive catalysts and downside if shipping conditions soften. MarketBeat: analyst coverage
• Neutral Sentiment: Balance sheet and metrics — GNK shows healthy liquidity ratios (current ~2.39, quick ~1.84) and low leverage (debt/equity ~0.21), which supports dividend funding flexibility, but profitability metrics remain weak (negative net margin and ROE), raising questions on dividend sustainability. MarketBeat: financial metrics
• Negative Sentiment: Insider selling by senior officers — multiple filings show sizable sales on Feb 23: CFO Peter George Allen sold 13,315 shares (~$315k) (SEC filing: http://www.sec.gov/Archives/edgar/data/1326200/000114036126006464/xslF345X05/form4.xml), CAO Joseph Adamo sold 6,340 shares (~$150k) (SEC filing: http://www.sec.gov/Archives/edgar/data/1326200/000114036126006467/xslF345X05/form4.xml), and insider Jesper Christensen sold 18,450 shares (~$436k) (SEC filing: http://www.sec.gov/Archives/edgar/data/1326200/000114036126006465/xslF345X05/form4.xml). These reductions (double-digit % cuts in their stakes) can be perceived negatively by the market despite remaining holdings. AmericanBankingNews: insider sale summary

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GNK. Weiss Ratings restated a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Monday, December 29th. Zacks Research raised Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Alliance Global Partners lowered shares of Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research note on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Genco Shipping & Trading currently has an average rating of “Buy” and an average target price of $21.00.

Hedge Funds Weigh In On Genco Shipping & Trading

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Genco Shipping & Trading by 82.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company’s stock worth $25,000 after purchasing an additional 876 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Genco Shipping & Trading in the 3rd quarter worth about $30,000. Advisory Services Network LLC bought a new stake in Genco Shipping & Trading in the 3rd quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new position in Genco Shipping & Trading in the 4th quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in Genco Shipping & Trading during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

About Genco Shipping & Trading

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.