Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Short Interest Down 51.8% in December

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) was the target of a large decrease in short interest in December. As of December 29th, there was short interest totalling 245,478 shares, a decrease of 51.8% from the December 15th total of 509,219 shares. Based on an average trading volume of 86,629 shares, the short-interest ratio is currently 2.8 days. Currently, 1.3% of the shares of the stock are short sold.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (NYSE GNK) opened at $13.85 on Friday. Genco Shipping & Trading Limited Ordinary Shares New has a twelve month low of $8.47 and a twelve month high of $15.17. The firm has a market capitalization of $474.47, a price-to-earnings ratio of -2.69 and a beta of 0.17. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52.

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) last released its quarterly earnings results on Wednesday, November 1st. The shipping company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.06). Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) had a negative net margin of 48.02% and a negative return on equity of 7.34%. equities analysts forecast that Genco Shipping & Trading Limited Ordinary Shares New will post -1.44 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on GNK. Noble Financial started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Friday, January 12th. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research upgraded Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, December 18th. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine lowered Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Evercore ISI started coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, November 20th. They set an “outperform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.86.

In other news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the company’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 SEC, which can be accessed through the SEC website. 10.30% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its holdings in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% during the 2nd quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after buying an additional 51 shares during the period. Cubist Systematic Strategies LLC increased its stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 9.6% in 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 during the period. Schwab Charles Investment Management Inc. purchased a new stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the fourth quarter worth $163,000. California State Teachers Retirement System purchased a new stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the second quarter worth $129,000. Finally, Dimensional Fund Advisors LP increased its stake in Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 102.0% in the second quarter. Dimensional Fund Advisors LP now owns 27,964 shares of the shipping company’s stock worth $265,000 after purchasing an additional 14,122 shares during the period. Institutional investors own 57.28% of the company’s stock.

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About Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)

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.

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