Gener8 Maritime Inc (GNRT) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC raised its stake in shares of Gener8 Maritime Inc (NASDAQ:GNRT) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,330,802 shares of the company’s stock after buying an additional 2,112 shares during the period. BlackRock Advisors LLC owned approximately 6.45% of Gener8 Maritime worth $34,117,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Gener8 Maritime by 1,565.4% in the second quarter. Tower Research Capital LLC TRC now owns 22,650 shares of the company’s stock worth $145,000 after buying an additional 21,290 shares during the period. California State Teachers Retirement System boosted its stake in shares of Gener8 Maritime by 126.4% in the second quarter. California State Teachers Retirement System now owns 82,324 shares of the company’s stock worth $527,000 after buying an additional 45,967 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Gener8 Maritime by 8.1% in the second quarter. GSA Capital Partners LLP now owns 83,934 shares of the company’s stock worth $537,000 after buying an additional 6,319 shares during the period. James Investment Research Inc. bought a new stake in shares of Gener8 Maritime during the second quarter worth $574,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Gener8 Maritime by 75.9% in the second quarter. Nationwide Fund Advisors now owns 94,163 shares of the company’s stock worth $603,000 after buying an additional 40,628 shares during the period.
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) opened at 5.01 on Wednesday. Gener8 Maritime Inc has a 1-year low of $4.81 and a 1-year high of $12.65. The firm has a 50-day moving average price of $5.34 and a 200-day moving average price of $6.34. The stock has a market capitalization of $414.23 million and a PE ratio of 2.34.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, equities research analysts forecast that Gener8 Maritime Inc will post $1.85 earnings per share for the current year.
GNRT has been the subject of a number of analyst reports. Zacks Investment Research cut Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Citigroup Inc. reiterated a “buy” rating and issued a $12.00 price target on shares of Gener8 Maritime in a research note on Friday, July 15th. Jefferies Group reiterated a “buy” rating and issued a $13.00 price target (down from $17.00) on shares of Gener8 Maritime in a research note on Wednesday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 price target (down from $9.00) on shares of Gener8 Maritime in a research note on Friday, August 26th.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $5.30, for a total transaction of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares of the company’s stock, valued at approximately $50,789.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
About Gener8 Maritime
Gener8 Maritime, Inc, formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons.
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