According to Zacks, “Gener8 Maritime, Inc. offers marine transportation services. The Company is involved in the transportation of crude oil and petroleum products. Gener8 Maritime, Inc. is headquartered in New York. “
Other analysts have also recently issued reports about the company. Morgan Stanley reiterated an equal weight rating and issued a $5.00 price objective (down from $9.00) on shares of Gener8 Maritime in a research note on Friday, August 26th. Jefferies Group reiterated a buy rating on shares of Gener8 Maritime in a research note on Tuesday, September 6th. Finally, Citigroup Inc. reduced their price objective on Gener8 Maritime from $12.00 to $9.00 and set a buy rating on the stock in a research note on Thursday, July 28th.
Shares of Gener8 Maritime (NASDAQ:GNRT) opened at 5.02 on Wednesday. The firm’s 50-day moving average price is $5.31 and its 200-day moving average price is $6.29. Gener8 Maritime has a 12 month low of $4.70 and a 12 month high of $12.21. The company has a market capitalization of $415.06 million and a price-to-earnings ratio of 2.34.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. The firm earned $105.96 million during the quarter, compared to analyst estimates of $109.89 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts expect that Gener8 Maritime will post $1.85 EPS for the current year.
In other Gener8 Maritime news, VP Leonard J. Vrondissis sold 14,312 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $5.30, for a total value of $75,853.60. Following 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 legal filing with the SEC, which can be accessed through this link.
A number of hedge funds have recently bought and sold shares of the stock. Boston Partners boosted its stake in Gener8 Maritime by 78.8% in the second quarter. Boston Partners now owns 1,282,908 shares of the company’s stock worth $8,211,000 after buying an additional 565,513 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Gener8 Maritime by 131.9% in the second quarter. BlackRock Fund Advisors now owns 933,332 shares of the company’s stock worth $5,973,000 after buying an additional 530,872 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Gener8 Maritime during the second quarter worth $2,393,000. Point72 Asset Management L.P. boosted its stake in Gener8 Maritime by 61.8% in the second quarter. Point72 Asset Management L.P. now owns 885,100 shares of the company’s stock worth $5,665,000 after buying an additional 337,900 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Gener8 Maritime by 37.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 879,557 shares of the company’s stock worth $5,629,000 after buying an additional 241,741 shares in the last quarter.
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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