Morgan Stanley Raises Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Price Target to $15.00

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) had its target price increased by analysts at Morgan Stanley from $13.00 to $15.00 in a report issued on Monday. The firm presently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s target price indicates a potential upside of 15.83% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. ValuEngine raised Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Noble Financial assumed coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Friday, January 12th. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research raised 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. Jefferies Group assumed coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, December 18th. They set a “buy” rating and a $20.00 target price for the company. Finally, Evercore ISI assumed coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research report on Monday, November 20th. They set an “outperform” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $16.14.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (GNK) traded up $0.51 during trading on Monday, reaching $12.95. The company’s stock had a trading volume of 48,422 shares, compared to its average volume of 105,531. The company has a market capitalization of $429.58, a PE ratio of -2.54 and a beta of 0.18. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.52. Genco Shipping & Trading Limited Ordinary Shares New has a 52-week low of $8.47 and a 52-week high of $15.17.

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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GNK. Citigroup Inc. raised its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% in the second quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 51 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the second quarter valued at $129,000. Teachers Advisors LLC acquired a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the second quarter valued at $141,000. Virtu Financial LLC acquired a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the fourth quarter valued at $145,000. Finally, Wells Fargo & Company MN raised its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 2,064.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 11,063 shares in the last quarter. Institutional investors and hedge funds own 57.26% 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.

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

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