Joseph Adamo Sells 6,226 Shares of Genco Shipping & Trading Limited (NYSE:GNK) Stock

27 Feb 2025, 10:55 by Danessa Lincoln · The Markets Daily

Genco Shipping & Trading Limited (NYSE:GNK – Get Free Report) CAO Joseph Adamo sold 6,226 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at approximately $374,532.84. This represents a 18.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $14.43 on Thursday. Genco Shipping & Trading Limited has a 52 week low of $13.51 and a 52 week high of $23.43. The company has a market capitalization of $616.78 million, a price-to-earnings ratio of 8.24, a PEG ratio of 5.64 and a beta of 0.97. The company has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $16.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09.

Genco Shipping & Trading (NYSE:GNK – Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 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 analyst estimates of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. On average, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.32%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading’s payout ratio is 68.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GNK. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group dropped their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Read Our Latest Research Report on GNK

Institutional Investors Weigh In On Genco Shipping & Trading

Hedge funds and other institutional investors have recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Genco Shipping & Trading during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Genco Shipping & Trading during the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC bought a new position in shares of Genco Shipping & Trading during the fourth quarter worth approximately $56,000. Quarry LP raised its position in shares of Genco Shipping & Trading by 535.8% in the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after buying an additional 3,595 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Genco Shipping & Trading in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 58.62% of the company’s stock.

About Genco Shipping & Trading

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