Zacks: Gener8 Maritime Inc (GNRT) Given Average Rating of “Buy” by Brokerages
Gener8 Maritime Inc (NASDAQ:GNRT) has been given an average broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a one year consensus price target of $7.67 for the company and are anticipating that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also given Gener8 Maritime an industry rank of 166 out of 265 based on the ratings given to its competitors.
Gener8 Maritime (NASDAQ:GNRT) opened at 4.95 on Friday. The stock has a market cap of $409.27 million and a PE ratio of 3.85. The stock has a 50 day moving average price of $4.78 and a 200-day moving average price of $4.80. Gener8 Maritime has a one year low of $3.52 and a one year high of $8.75.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Gener8 Maritime by 36.3% in the fourth quarter. AQR Capital Management LLC now owns 751,898 shares of the company’s stock valued at $3,368,000 after buying an additional 200,209 shares in the last quarter. Monarch Alternative Capital LP purchased a new position in Gener8 Maritime during the fourth quarter valued at approximately $14,465,000. Two Sigma Investments LP purchased a new position in Gener8 Maritime during the fourth quarter valued at approximately $144,000. Renaissance Technologies LLC purchased a new position in Gener8 Maritime during the fourth quarter valued at approximately $303,000. Finally, Allianz Asset Management AG raised its position in Gener8 Maritime by 96.2% in the fourth quarter. Allianz Asset Management AG now owns 181,380 shares of the company’s stock valued at $813,000 after buying an additional 88,917 shares in the last quarter.
Gener8 Maritime Company Profile
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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