Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) from a sell rating to a hold rating in a research note published on Friday morning.

GNK has been the subject of a number of other reports. Jefferies Group started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, December 18th. They issued a buy rating and a $20.00 price objective for the company. Noble Financial started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Friday, January 12th. They issued a buy rating and a $20.00 price objective for the company. Zacks Investment Research upgraded Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a sell rating to a hold rating in a research report on Tuesday, January 9th. Finally, Evercore ISI started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, November 20th. They issued an outperform rating and a $15.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $15.86.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (NYSE GNK) opened at $12.10 on Friday. The company has a market capitalization of $434.76, a P/E ratio of -2.37 and a beta of 0.18. Genco Shipping & Trading Limited Ordinary Shares New has a 12-month low of $8.47 and a 12-month high of $15.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.23 and a quick ratio of 5.23.

In related news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $13.11, for a total transaction of $4,201,256.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of GNK. Citigroup Inc. increased its position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% during the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock worth $129,000 after purchasing an additional 51 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter worth approximately $129,000. Teachers Advisors LLC purchased a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter worth approximately $141,000. Cubist Systematic Strategies LLC increased its position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 9.6% during the second quarter. Cubist Systematic Strategies LLC now owns 16,692 shares of the shipping company’s stock worth $158,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the fourth quarter worth approximately $163,000. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) 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 ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK)

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