Gener8 Maritime Inc (GNRT) Stock Price Up 2.4%
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) rose 2.4% on Friday . The stock traded as high as $5.50 and last traded at $5.48, with a volume of 399,512 shares traded. The stock had previously closed at $5.35.
Several equities analysts recently commented on GNRT shares. Morgan Stanley restated an “equal weight” rating and set a $5.00 target price (down previously from $9.00) on shares of Gener8 Maritime in a research report on Friday, August 26th. Jefferies Group restated a “buy” rating on shares of Gener8 Maritime in a research report on Tuesday, September 6th. Zacks Investment Research downgraded Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Citigroup Inc. cut their target price on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, July 28th.
The firm has a market capitalization of $440.69 million and a PE ratio of 2.49. The stock’s 50-day moving average is $5.37 and its 200 day moving average is $6.38.
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 consensus estimate of $0.52 by $0.01. The business earned $105.96 million during the quarter, compared to analysts’ expectations of $109.89 million. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. Analysts expect that Gener8 Maritime Inc will post $1.85 earnings per share for the current year.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $5.30, for a total value of $75,853.60. Following the sale, the vice president now owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. purchased a new position in Gener8 Maritime during the second quarter valued at approximately $125,000. American International Group Inc. increased its position in Gener8 Maritime by 131.1% in the second quarter. American International Group Inc. now owns 22,600 shares of the company’s stock valued at $145,000 after buying an additional 12,821 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 valued at $145,000 after buying an additional 21,290 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in Gener8 Maritime during the second quarter valued at approximately $188,000. Finally, Rhumbline Advisers increased its position in Gener8 Maritime by 70.4% in the second quarter. Rhumbline Advisers now owns 37,114 shares of the company’s stock valued at $238,000 after buying an additional 15,329 shares during the last quarter.
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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