Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $15.63

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Shares of Genco Shipping & Trading Limited (NYSE:GNK) have received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $15.63.

GNK has been the subject of a number of analyst reports. Noble Financial reissued a “buy” rating and issued a $18.00 price objective on shares of Genco Shipping & Trading in a research report on Tuesday, October 29th. ValuEngine downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Zacks Investment Research lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

NYSE:GNK opened at $10.50 on Friday. Genco Shipping & Trading has a 12-month low of $6.83 and a 12-month high of $11.82. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $438.42 million, a PE ratio of 16.41 and a beta of 1.09. The firm has a 50-day moving average price of $10.52 and a 200 day moving average price of $9.32.

The firm also recently announced a None dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. Genco Shipping & Trading’s payout ratio is 109.38%.

In other Genco Shipping & Trading news, Director Strategic Value Partners, Llc sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.00, for a total value of $20,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Founders Capital Management increased its stake in Genco Shipping & Trading by 100.0% during the third quarter. Founders Capital Management now owns 3,000 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 1,500 shares during the period. United Services Automobile Association lifted its stake in Genco Shipping & Trading by 14.4% in the 2nd quarter. United Services Automobile Association now owns 16,152 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 2,028 shares during the last quarter. Rhumbline Advisers lifted its position in Genco Shipping & Trading by 12.3% during the third quarter. Rhumbline Advisers now owns 20,939 shares of the shipping company’s stock worth $193,000 after acquiring an additional 2,297 shares during the last quarter. Aperio Group LLC acquired a new stake in Genco Shipping & Trading during the second quarter worth approximately $28,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Genco Shipping & Trading in the second quarter valued at approximately $28,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Genco Shipping & Trading Company Profile

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 ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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