Genco Shipping & Trading Limited (NYSE:GNK) Major Shareholder Strategic Value Partners, Llc Sells 795,441 Shares


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Genco Shipping & Trading Limited (NYSE:GNK) major shareholder Strategic Value Partners, Llc sold 795,441 shares of the business’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $8.58, for a total value of $6,824,883.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Strategic Value Partners, Llc also recently made the following trade(s):

  • On Tuesday, January 12th, Strategic Value Partners, Llc sold 6,902,062 shares of Genco Shipping & Trading stock. The shares were sold at an average price of $8.22, for a total value of $56,734,949.64.

Shares of Genco Shipping & Trading stock opened at $8.12 on Thursday. The stock has a market capitalization of $339.43 million, a P/E ratio of -2.15 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $7.56 and a two-hundred day moving average price of $7.06. Genco Shipping & Trading Limited has a 12-month low of $4.27 and a 12-month high of $10.18.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, November 4th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $54.04 million for the quarter, compared to the consensus estimate of $54.10 million. Genco Shipping & Trading had a negative return on equity of 2.43% and a negative net margin of 43.05%. Sell-side analysts anticipate that Genco Shipping & Trading Limited will post -0.44 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in GNK. Arrowstreet Capital Limited Partnership boosted its position in Genco Shipping & Trading by 53.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 259,999 shares of the shipping company’s stock worth $1,794,000 after purchasing an additional 90,561 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Genco Shipping & Trading by 186.8% in the second quarter. Goldman Sachs Group Inc. now owns 72,666 shares of the shipping company’s stock valued at $456,000 after acquiring an additional 47,330 shares during the period. Jane Street Group LLC bought a new stake in shares of Genco Shipping & Trading in the third quarter valued at approximately $178,000. Squarepoint Ops LLC bought a new stake in shares of Genco Shipping & Trading in the third quarter valued at approximately $143,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Genco Shipping & Trading in the third quarter valued at approximately $97,000. 78.85% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on GNK shares. BidaskClub raised Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Zacks Investment Research cut Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Monday, January 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Genco Shipping & Trading presently has a consensus rating of “Hold” and an average price target of $10.44.

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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