196,191 Shares in Gener8 Maritime Inc (GNRT) Purchased by Gabelli Funds LLC

Gabelli Funds LLC acquired a new stake in shares of Gener8 Maritime Inc (NYSE:GNRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 196,191 shares of the shipping company’s stock, valued at approximately $1,299,000. Gabelli Funds LLC owned approximately 0.24% of Gener8 Maritime as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in Gener8 Maritime by 5.8% during the second quarter. California State Teachers Retirement System now owns 83,624 shares of the shipping company’s stock valued at $476,000 after purchasing an additional 4,600 shares in the last quarter. Voya Investment Management LLC grew its position in Gener8 Maritime by 29.3% during the second quarter. Voya Investment Management LLC now owns 23,024 shares of the shipping company’s stock valued at $131,000 after purchasing an additional 5,219 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Gener8 Maritime by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 40,842 shares of the shipping company’s stock valued at $232,000 after purchasing an additional 6,022 shares in the last quarter. Alliancebernstein L.P. grew its position in Gener8 Maritime by 50.4% during the second quarter. Alliancebernstein L.P. now owns 37,000 shares of the shipping company’s stock valued at $211,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in Gener8 Maritime by 11.5% during the third quarter. Nationwide Fund Advisors now owns 121,561 shares of the shipping company’s stock valued at $548,000 after purchasing an additional 12,522 shares in the last quarter. 76.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gener8 Maritime Inc (NYSE GNRT) opened at $5.74 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $466.30, a P/E ratio of -4.07 and a beta of 1.12. Gener8 Maritime Inc has a 1 year low of $4.17 and a 1 year high of $6.94.

Gener8 Maritime (NYSE:GNRT) last posted its earnings results on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.06). The business had revenue of $47.89 million during the quarter, compared to the consensus estimate of $47.06 million. Gener8 Maritime had a positive return on equity of 1.16% and a negative net margin of 34.10%. The business’s revenue was down 30.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. sell-side analysts predict that Gener8 Maritime Inc will post -0.28 EPS for the current fiscal year.

GNRT has been the topic of a number of research analyst reports. BidaskClub raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group reaffirmed a “buy” rating on shares of Gener8 Maritime in a research report on Thursday, October 19th. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “strong sell” rating in a research report on Monday, October 23rd. UBS Group downgraded shares of Gener8 Maritime from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $6.50 to $6.75 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, Citigroup downgraded shares of Gener8 Maritime from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Gener8 Maritime presently has an average rating of “Hold” and an average price target of $7.92.

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Gener8 Maritime Company Profile

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 (NYSE:GNRT)

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