Parametric Portfolio Associates LLC boosted its position in Gener8 Maritime Inc (NASDAQ:GNRT) by 455.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,413 shares of the shipping company’s stock after buying an additional 62,665 shares during the period. Parametric Portfolio Associates LLC owned 0.09% of Gener8 Maritime worth $433,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GNRT. Karp Capital Management Corp purchased a new stake in Gener8 Maritime during the first quarter worth $226,000. Bank of New York Mellon Corp increased its stake in 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 in the last quarter. Boston Partners increased its stake in Gener8 Maritime by 69.7% in the first quarter. Boston Partners now owns 1,239,283 shares of the shipping company’s stock worth $7,027,000 after buying an additional 509,072 shares in the last quarter. Wells Fargo & Company MN increased its stake in 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 in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Gener8 Maritime by 190.9% in the first quarter. Acadian Asset Management LLC now owns 181,120 shares of the shipping company’s stock worth $1,027,000 after buying an additional 118,853 shares in the last quarter.
Gener8 Maritime Inc (NASDAQ GNRT) opened at 4.33 on Friday. The company has a 50-day moving average price of $5.26 and a 200-day moving average price of $5.26. Gener8 Maritime Inc has a 1-year low of $3.52 and a 1-year high of $6.40. The firm’s market cap is $359.34 million.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results on Tuesday, August 1st. The shipping company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.05. The business had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $76.55 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was down 29.3% on a year-over-year basis. On average, equities research analysts forecast that Gener8 Maritime Inc will post ($0.02) EPS for the current fiscal year.
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A number of equities research analysts have recently weighed in on the company. TheStreet raised Gener8 Maritime from a “d” rating to a “c-” rating in a report on Wednesday, August 9th. BidaskClub downgraded Gener8 Maritime from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and set a $10.00 target price on shares of Gener8 Maritime in a report on Monday, August 7th. Zacks Investment Research downgraded Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Finally, ValuEngine downgraded Gener8 Maritime from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Two equities research 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. Gener8 Maritime presently has a consensus rating of “Hold” and an average 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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