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

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) had its target price upped by Morgan Stanley from $13.00 to $15.00 in a research report released on Monday morning. Morgan Stanley currently has an equal weight rating on the shipping company’s stock.

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a hold rating to a sell rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a sell rating to a hold rating in a research note on Tuesday, January 9th. Jefferies Group initiated coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Monday, December 18th. They issued a buy rating and a $20.00 price objective on the stock. Noble Financial initiated coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Friday, January 12th. They issued a buy rating and a $20.00 price objective on the stock. Finally, Evercore ISI initiated coverage on shares of 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 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) presently has an average rating of Buy and an average price target of $16.14.

Genco Shipping & Trading Limited Ordinary Shares New (GNK) opened at $12.96 on Monday. 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 current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52.

In related news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $13.11, for a total transaction of $4,201,256.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the fourth quarter valued at about $145,000. Wells Fargo & Company MN lifted its position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 2,064.0% during 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. Schwab Charles Investment Management Inc. bought a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the fourth quarter valued at about $163,000. California State Teachers Retirement System bought a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) during the second quarter valued at about $129,000. Finally, Citigroup Inc. lifted 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 valued at $129,000 after purchasing an additional 51 shares in the last quarter. 57.26% of the stock is currently owned by institutional investors.

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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.

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

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