Emerald Acquisition Ltd. bought a new position in Gener8 Maritime Inc (NASDAQ:GNRT) during the second quarter, according to its most recent filing with the SEC. The firm bought 193,403 shares of the company’s stock, valued at approximately $1,238,000. Emerald Acquisition Ltd. owned about 0.23% of Gener8 Maritime as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Gener8 Maritime by 126.4% in the second quarter. California State Teachers Retirement System now owns 82,324 shares of the company’s stock valued at $527,000 after buying an additional 45,967 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Gener8 Maritime by 36.6% in the second quarter. Bank of New York Mellon Corp now owns 178,176 shares of the company’s stock valued at $1,140,000 after buying an additional 47,780 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in Gener8 Maritime during the second quarter valued at approximately $574,000.
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) traded up 1.31% during midday trading on Friday, reaching $5.42. 130,667 shares of the company’s stock traded hands. The stock has a market cap of $448.13 million and a P/E ratio of 2.53. Gener8 Maritime Inc has a 12 month low of $4.70 and a 12 month high of $12.20. The stock has a 50 day moving average of $5.28 and a 200-day moving average of $6.24.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results 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 had revenue of $105.96 million for the quarter, compared to analysts’ expectations of $109.89 million. The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts forecast that Gener8 Maritime Inc will post $1.85 EPS for the current fiscal year.
Several equities research analysts recently commented on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Gener8 Maritime in a research report on Tuesday, September 6th. Zacks Investment Research cut shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Finally, Citigroup Inc. reissued a “buy” rating and set a $12.00 price target on shares of Gener8 Maritime in a research report on Friday, July 15th.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the completion of the sale, the vice president now directly owns 9,583 shares in the company, valued at $50,789.90. The transaction was disclosed in a filing with the SEC, which is available at this link.
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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