Genco Shipping & Trading Limited (NYSE: GNK) is 12.09% higher on its value in year-to-date trading and has touched a low of $4.27 and a high of $10.39 in the current 52-week trading range. The GNK stock was last observed hovering at around $8.50 in the last trading session, with the day’s loss setting it -0.25% off its average median price target of $9.50 for the next 12 months. It is also 41.07% off the consensus price target high of $14.00 offered by 7 analysts, but current levels are 4.07% higher than the price target low of $8.60 for the same period.
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Currently trading at $8.25, the stock is 9.87% and 13.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.34 million and changing -2.94% at the moment leaves the stock 24.43% off its SMA200. GNK registered -18.07% loss for a year compared to 6-month gain of 38.42%. The firm has a 50-day simple moving average (SMA 50) of $7.52 and a 200-day simple moving average (SMA200) of $7.03.
The stock witnessed a 7.00% loss in the last 1 month and extending the period to 3 months gives it a 10.15%, and is 8.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.50% over the week and 5.17% over the month.
Genco Shipping & Trading Limited (GNK) has around 1215 employees, a market worth around $339.57M and $368.80M in sales. Fwd P/E is 34.66. Profit margin for the company is -43.10%. Distance from 52-week low is 93.21% and -20.62% from its 52-week high.
Genco Shipping & Trading Limited (GNK) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Genco Shipping & Trading Limited (GNK) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Genco Shipping & Trading Limited is expected to release its quarterly report on 05/10/2021 and quarterly earnings per share for the current quarter are estimated at $0.15 with sales reaching $55.86M over the same period.The EPS is expected to shrink by -56.20% this year, but quarterly earnings will post -6.10% year-over-year. Quarterly sales are estimated to shrink -6.90% in year-over-year returns.
Genco Shipping & Trading Limited (GNK) Top Institutional Holders
121 institutions hold shares in Genco Shipping & Trading Limited (GNK), with 2.48M shares held by insiders accounting for 5.93% while institutional investors hold 84.19% of the company’s shares. The shares outstanding are 41.93M, and float is at 28.95M with Short Float at 0.97%. Institutions hold 79.20% of the Float.
The top institutional shareholder in the company is Centerbridge Partners, L.P. with over 10.49 million shares valued at $72.36 million. The investor’s holdings represent 25.09% of the GNK Shares outstanding. As of Sep 29, 2020, the second largest holder is Strategic Value Partners, LLC with 8.17 million shares valued at $56.34 million to account for 19.53% of the shares outstanding. The other top investors are Apollo Management Holdings, L.P. which holds 5.42 million shares representing 12.96% and valued at over $37.37 million, while Evermore Global Advisors, LLC holds 4.87% of the shares totaling 2.04 million with a market value of $14.06 million.
Genco Shipping & Trading Limited (GNK) Insider Activity
A total of 58 insider transactions have happened at Genco Shipping & Trading Limited (GNK) in the last six months, with sales accounting for 58 and purchases happening 0 times. The most recent transaction is an insider sale by CCP II Cayman GP Ltd., the company’s 10% Owner. SEC filings show that CCP II Cayman GP Ltd. sold 125,000 shares of the company’s common stock on Jan 07 at a price of $8.31 per share for a total of $1.04 million. Following the sale, the insider now owns 1.08 million shares.
Genco Shipping & Trading Limited disclosed in a document filed with the SEC on Jan 07 that Centerbridge Credit Partners, (10% Owner) sold a total of 125,000 shares of the company’s common stock. The trade occurred on Jan 07 and was made at $8.31 per share for $1.04 million. Following the transaction, the insider now directly holds 1.08 million shares of the GNK stock.
Still, SEC filings show that on Jan 06, Centerbridge Credit Partners, (10% Owner) disposed off 100,000 shares at an average price of $7.98 for $0.8 million. The insider now directly holds 1,116,380 shares of Genco Shipping & Trading Limited (GNK).
Genco Shipping & Trading Limited (GNK): Who are the competitors?
The company’s main competitors (and peers) include Alexander & Baldwin Inc. (ALEX) that is -22.97% lower over the past 12 months. Diana Shipping Inc. (DSX) is -20.13% down on the 1-year trading charts. Short interest in the company’s stock has fallen -61.87% from the last report on Nov 12, 2020 to stand at a total of 0.46 million short shares sold with a short interest ratio of 1.03.