California State Teachers Retirement System boosted its position in Gener8 Maritime Inc (NASDAQ:GNRT) by 126.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,324 shares of the company’s stock after buying an additional 45,967 shares during the period. California State Teachers Retirement System owned about 0.10% of Gener8 Maritime worth $527,000 at the end of the most recent reporting period.
Separately, Bank of New York Mellon Corp increased 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 worth $1,140,000 after buying an additional 47,780 shares during the last quarter.
Gener8 Maritime Inc (NASDAQ:GNRT) traded up 2.24% during trading on Friday, hitting $5.47. The stock had a trading volume of 416,044 shares. Gener8 Maritime Inc has a 1-year low of $4.70 and a 1-year high of $12.20. The stock has a market cap of $452.27 million and a PE ratio of 2.55. The firm’s 50-day moving average price is $5.28 and its 200-day moving average price is $6.23.
Gener8 Maritime (NASDAQ:GNRT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. The firm earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, equities research analysts predict that Gener8 Maritime Inc will post $1.85 earnings per share for the current fiscal year.
A number of analysts have commented on the company. Zacks Investment Research downgraded Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research report on Monday, September 12th. Finally, Citigroup Inc. decreased their target price on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $5.30, for a total transaction of $75,853.60. Following the sale, the vice president now directly owns 9,583 shares in the company, valued at approximately $50,789.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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.
Want to see what other hedge funds are holding GNRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gener8 Maritime Inc (NASDAQ:GNRT).
Receive News & Ratings for Gener8 Maritime Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gener8 Maritime Inc and related companies with MarketBeat.com's FREE daily email newsletter.