Alliancebernstein L.P. increased its position in shares of Gener8 Maritime Inc (NASDAQ:GNRT) by 4.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,600 shares of the shipping company’s stock after buying an additional 1,100 shares during the period. Alliancebernstein L.P.’s holdings in Gener8 Maritime were worth $139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock worth $137,000 after buying an additional 1,598 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gener8 Maritime by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 222,466 shares of the shipping company’s stock worth $1,261,000 after buying an additional 2,254 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Gener8 Maritime by 64.7% in the first quarter. Wells Fargo & Company MN now owns 44,685 shares of the shipping company’s stock worth $254,000 after buying an additional 17,550 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Gener8 Maritime by 43.2% in the fourth quarter. Teachers Advisors LLC now owns 88,029 shares of the shipping company’s stock worth $394,000 after buying an additional 26,555 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Gener8 Maritime during the first quarter worth about $226,000.

Gener8 Maritime Inc (NASDAQ GNRT) traded up 0.70% during mid-day trading on Friday, hitting $4.33. The company’s stock had a trading volume of 286,819 shares. Gener8 Maritime Inc has a 12-month low of $3.52 and a 12-month high of $6.40. The company’s market cap is $359.34 million. The firm’s 50-day moving average is $5.26 and its 200-day moving average is $5.26.

Gener8 Maritime (NASDAQ:GNRT) last posted its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. The business had revenue of $74.95 million during the quarter, compared to the consensus estimate of $76.55 million. The firm’s revenue for the quarter was down 29.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Analysts predict that Gener8 Maritime Inc will post ($0.02) EPS for the current fiscal year.

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A number of brokerages have issued reports on GNRT. Zacks Investment Research cut Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Gener8 Maritime in a research note on Monday, August 7th. BidaskClub cut Gener8 Maritime from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. TheStreet upgraded Gener8 Maritime from a “d” rating to a “c-” rating in a research note on Wednesday, August 9th. Finally, ValuEngine cut Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.50.

About Gener8 Maritime

Gener8 Maritime, Inc is a provider of international seaborne crude oil transportation services. The Company operates through the transportation of international seaborne crude oil and petroleum products with its fleet of vessels segment. As of March 10, 2017, the Company owned a fleet of 40 tankers on the water, consisting of 24 Very Large Crude Carriers (VLCCs), 10 Suezmax vessels, four Aframax vessels and two Panamax vessels, with an aggregate carrying capacity of 9.4 million deadweight tons (DWT) and one eco VLCC newbuilding.

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Institutional Ownership by Quarter for Gener8 Maritime (NASDAQ:GNRT)

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