Genco Shipping & Trading (NYSE:GNK) Rating Increased to Strong-Buy at Pareto Securities

Genco Shipping & Trading (NYSE:GNK) was upgraded by Pareto Securities to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on GNK. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Jefferies Financial Group dropped their price target on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Genco Shipping & Trading Stock Performance

NYSE GNK opened at $13.69 on Monday. The business’s 50-day moving average price is $14.14 and its 200 day moving average price is $15.46. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading has a twelve month low of $13.08 and a twelve month high of $23.43. The company has a market capitalization of $585.44 million, a PE ratio of 7.82, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last released 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). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The company had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. On average, research analysts predict that Genco Shipping & Trading will post 0.48 earnings per share for the current year.

Insider Activity at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 13,602 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the sale, the insider now directly owns 57,322 shares in the company, valued at $800,215.12. This trade represents a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at approximately $374,532.84. This trade represents a 18.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,812 shares of company stock worth $402,216. 2.08% of the stock is currently owned by company insiders.

Institutional Trading of Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Transatlantique SA bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth about $28,000. R Squared Ltd bought a new stake in Genco Shipping & Trading in the fourth quarter valued at about $29,000. New Age Alpha Advisors LLC acquired a new stake in Genco Shipping & Trading during the fourth quarter valued at approximately $56,000. Quarry LP lifted its holdings in Genco Shipping & Trading by 535.8% during the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after buying an additional 3,595 shares during the last quarter. Finally, Mariner LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter worth approximately $147,000. 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.