Genco Shipping & Trading (NYSE:GNK) Reaches New 1-Year Low – Time to Sell?

Genco Shipping & Trading Limited (NYSE:GNK)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $13.50 and last traded at $13.54, with a volume of 39785 shares changing hands. The stock had previously closed at $13.52.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group decreased their price target on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Genco Shipping & Trading Stock Up 5.0 %

The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average price of $14.33 and a 200-day moving average price of $15.81. The stock has a market capitalization of $606.09 million, a P/E ratio of 8.10, a PEG ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). The firm had revenue of $67.95 million during the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. As a group, research analysts forecast that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 8.47%. Genco Shipping & Trading’s dividend payout ratio is currently 68.57%.

Insider Buying and Selling

In other news, CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the transaction, the chief financial officer now owns 45,251 shares of the company’s stock, valued at approximately $631,703.96. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Joseph Adamo sold 6,226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now directly owns 26,829 shares in the company, valued at approximately $374,532.84. This represents a 18.84 % 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 worth $402,216. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. LPL Financial LLC grew its stake in shares of Genco Shipping & Trading by 3.1% during the fourth quarter. LPL Financial LLC now owns 24,566 shares of the shipping company’s stock valued at $342,000 after buying an additional 736 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Genco Shipping & Trading by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,001 shares of the shipping company’s stock worth $335,000 after purchasing an additional 924 shares in the last quarter. Wells Fargo & Company MN grew its stake in Genco Shipping & Trading by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 57,506 shares of the shipping company’s stock worth $802,000 after purchasing an additional 1,040 shares in the last quarter. Legal & General Group Plc grew its stake in Genco Shipping & Trading by 3.9% in the fourth quarter. Legal & General Group Plc now owns 42,402 shares of the shipping company’s stock worth $591,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Genco Shipping & Trading by 2.7% in the fourth quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company’s stock worth $950,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.