Genco Shipping & Trading (NYSE: GNK) downgraded to "Hold" on StockNews.com - Wakeupandsmelltheblog Genco Shipping & Trading (NYSE: GNK) downgraded to "Hold" on StockNews.com - Wakeupandsmelltheblog

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Genco Shipping & Trading (NYSE: GNK) downgraded to “Hold” on StockNews.com

Genco Shipping & Trading (NYSE: GNK – Get Review) was downgraded by StockNews.com research analysts from a “buy” rating to a “hold” rating in a report released Thursday.

A number of other brokerages have also recently released reports on GNK. B. Riley raised his price target on Genco Shipping & Trading shares from $27.00 to $31.00 in a Friday, May 6 report. Clarkson Capital reissued a “buy” rating on Genco Shipping & Trading shares in a research report on Tuesday, June 14. Finally, Jefferies Financial Group began covering shares of Genco Shipping & Trading in a report on Wednesday, April 27. They issued a “buy” rating for the company. One equity research analyst gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

NYSE GNK shares opened at $19.05 on Thursday. Genco Shipping & Trading has a fifty-two week minimum of $13.21 and a fifty-two week maximum of $27.15. The company has a 50-day simple moving average of $23.13 and a two-hundred-day simple moving average of $19.87. The company has a market capitalization of $802.04 million, a price-earnings ratio of 3.67 and a beta of 0.84. The company has a debt ratio of 0.20, a quick ratio of 2.16 and a current ratio of 2.78.

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Genco Shipping & Trading (NYSE: GNK – Get Rating) last reported results on Wednesday, May 4. The shipping company reported earnings per share (EPS) of $0.97 for the quarter, missing the consensus estimate of $0.98 per ($0.01). The company posted revenue of $97.76 million in the quarter, compared to $95.11 million expected by analysts. Genco Shipping & Trading achieved a return on equity of 25.50% and a net margin of 37.21%. On average, analysts expect Genco Shipping & Trading to post earnings per share of 4.73 for the current fiscal year.

In other news, CEO John C. Wobensmith sold 100,000 shares in a trade on Monday, May 23. The stock was sold at an average price of $25.14, for a total value of $2,514,000.00. Following the completion of the sale, the CEO now owns 399,099 shares of the company, valued at $10,033,348.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO John C. Wobensmith sold 45,000 shares in a trade on Friday, May 27. The stock was sold at an average price of $25.15, for a total value of $1,131,750.00. Following the sale, the CEO now owns 399,099 shares of the company, valued at $10,037,339.85. The disclosure of this sale can be found here. In the past three months, insiders have sold 148,500 shares of the company valued at $3,732,515. Insiders hold 2.50% of the shares of the company.

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP acquired a new position in Genco Shipping & Trading in Q1 worth $10,469,000. Victory Capital Management Inc. increased its position in Genco Shipping & Trading by 1,177.9% in the first quarter. Victory Capital Management Inc. now owns 441,690 shares of the shipping company valued at $9,730,000 after buying an additional 407,125 shares last quarter. Hillsdale Investment Management Inc. bought a new stock position in Genco Shipping & Trading during the fourth quarter worth $5,317,000. Cubist Systematic Strategies LLC increased its stake in shares of Genco Shipping & Trading by 1,275.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 244,687 shares of the shipping company valued at $3,915,000 after acquiring an additional 226,901 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Genco Shipping & Trading by 454.3% during the first quarter. Invesco Ltd. now owns 274,154 shares of the shipping company worth $6,476,000 after purchasing an additional 224,698 shares in the last quarter. Institutional investors hold 75.90% of the company’s shares.

Genco Shipping & Trading Company Profile (Get a rating)

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the shipping of dry bulk cargoes worldwide. The Company owns and operates dry bulk carriers to transport iron ore, coal, grain, steel products and other dry bulk cargoes. It charters its vessels mainly to trading houses, including commodity traders; producers; and public entities.

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