Insider Sell: Chief Commercial Officer Jesper Christensen Sells 12,404 Shares of Genco Shipping ...
Genco Shipping & Trading Ltd's Chief Commercial Officer, Jesper Christensen, has sold 12,404 shares of the company on February 23, 2024, according to a recent SEC Filing. The transaction was executed at a stock price of $19.8 per share, resulting in a total sale amount of approximately $245,599.20.
Genco Shipping & Trading Ltd, listed on the NYSE under the ticker GNK, is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. The company's fleet consists of Capesize, Ultramax, Supramax, Handymax, and Handysize vessels that transport major bulks, including iron ore, coal, and grain, as well as minor bulks such as bauxite, phosphate, and steel products.
Over the past year, the insider has sold a total of 12,404 shares and has not made any purchases of the company's stock. The insider transaction history for Genco Shipping & Trading Ltd shows a pattern of 8 insider sells and 0 insider buys over the past year.
On the valuation front, Genco Shipping & Trading Ltd's shares were trading at $19.8 on the day of the insider's recent transaction. The company has a market capitalization of $845.243 million. The stock's price-to-GF-Value ratio stands at 1.59, indicating that the stock is significantly overvalued when compared to the GF Value of $12.48.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's historical returns and growth, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider transactions as they can provide insights into a company's internal perspective on the stock's valuation and future prospects. The recent sale by the insider may attract attention from the market, considering the current valuation metrics and the stock's performance relative to its GF Value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
