138 institutions hold shares in Genco Shipping & Trading Limited (GNK), with 3.09M shares held by insiders accounting for 7.40% while institutional investors hold 49.85% of the company’s shares. The shares outstanding are 41.93M, and float is at 29.47M with Short Float at 1.65%. Institutions hold 46.16% of the Float.
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The top institutional shareholder in the company is Centerbridge Partners, L.P. with over 10.21 million shares valued at $75.18 million. The investor’s holdings represent 24.37% of the GNK Shares outstanding. As of Dec 30, 2020, the second largest holder is Strategic Value Partners, LLC with 8.17 million shares valued at $60.1 million to account for 19.48% of the shares outstanding. The other top investors are Apollo Management Holdings, L.P. which holds 4.38 million shares representing 10.45% and valued at over $32.24 million, while Dimensional Fund Advisors LP holds 3.34% of the shares totaling 1.4 million with a market value of $10.31 million.
Genco Shipping & Trading Limited (NYSE: GNK) is 41.98% higher on its value in year-to-date trading and has touched a low of $4.30 and a high of $12.56 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GNK stock was last observed hovering at around $10.08 in the last trading session, with the day’s gains setting it 0.37% off its average median price target of $13.00 for the next 12 months. It is also 38.53% off the consensus price target high of $17.00 offered by 7 analysts, but current levels are -16.11% lower than the price target low of $9.00 for the same period.
Currently trading at $10.45, the stock is -4.81% and 4.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.68 million and changing 3.67% at the moment leaves the stock 33.54% off its SMA200. GNK registered 99.05% gain for a year compared to 6-month gain of 34.49%. The firm has a 50-day simple moving average (SMA 50) of $10.80 and a 200-day simple moving average (SMA200) of $8.33.
The stock witnessed a -8.01% loss in the last 1 month and extending the period to 3 months gives it a 37.86%, and is 4.08% 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 4.19% over the week and 6.66% over the month.
Genco Shipping & Trading Limited (GNK) has around 920 employees, a market worth around $430.44M and $355.60M in sales. Fwd P/E is 7.73. Profit margin for the company is -63.40%. Distance from 52-week low is 143.02% and -16.80% 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 1.90, 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 08/11/2021 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $51.03M over the same period.The EPS is expected to shrink by -301.50% this year, but quarterly earnings will post -35.60% year-over-year.
Genco Shipping & Trading Limited (GNK) Insider Activity
A total of 238 insider transactions have happened at Genco Shipping & Trading Limited (GNK) in the last six months, with sales accounting for 226 and purchases happening 12 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 450,000 shares of the company’s common stock on Mar 26 at a price of $10.73 per share for a total of $4.83 million. Following the sale, the insider now owns 0.67 million shares.
Genco Shipping & Trading Limited disclosed in a document filed with the SEC on Mar 26 that Centerbridge Credit Partners, (10% Owner) sold a total of 450,000 shares of the company’s common stock. The trade occurred on Mar 26 and was made at $10.73 per share for $4.83 million. Following the transaction, the insider now directly holds 0.67 million shares of the GNK stock.
Still, SEC filings show that on Mar 25, Centerbridge Credit Partners, (10% Owner) disposed off 470,000 shares at an average price of $10.69 for $5.02 million. The insider now directly holds 783,745 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 82.43% higher over the past 12 months. Diana Shipping Inc. (DSX) is 119.57% up on the 1-year trading charts. Short interest in the company’s stock has fallen -122.03% from the last report on Feb 11, 2021 to stand at a total of 1.08 million short shares sold with a short interest ratio of 0.54.