Tower Research Capital LLC TRC increased its stake in Gener8 Maritime Inc (NASDAQ:GNRT) by 1,565.4% during the second quarter, Holdings Channel reports. The firm owned 22,650 shares of the company’s stock after buying an additional 21,290 shares during the period. Tower Research Capital LLC TRC’s holdings in Gener8 Maritime were worth $145,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of 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 during the period. GSA Capital Partners LLP increased its position in shares of Gener8 Maritime by 8.1% in the second quarter. GSA Capital Partners LLP now owns 83,934 shares of the company’s stock valued at $537,000 after buying an additional 6,319 shares during the period. James Investment Research Inc. bought a new position in shares of Gener8 Maritime during the second quarter valued at about $574,000. Nationwide Fund Advisors increased its position in shares of Gener8 Maritime by 75.9% in the second quarter. Nationwide Fund Advisors now owns 94,163 shares of the company’s stock valued at $603,000 after buying an additional 40,628 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of 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 during the period.
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) opened at 5.47 on Friday. The firm has a market capitalization of $452.27 million and a P/E ratio of 2.55. Gener8 Maritime Inc has a 12-month low of $4.70 and a 12-month high of $12.20. The company has a 50-day moving average price of $5.28 and a 200-day moving average price of $6.23.
Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings data 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 company had revenue of $105.96 million for the quarter, compared to analyst estimates of $109.89 million. During the same period last year, the company earned $0.68 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities analysts predict that Gener8 Maritime Inc will post $1.85 EPS for the current year.
Several brokerages have recently issued reports on GNRT. Zacks Investment Research downgraded shares of Gener8 Maritime from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. reiterated a “buy” rating and set a $12.00 price target on shares of Gener8 Maritime in a report on Friday, July 15th. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a report on Monday, September 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Gener8 Maritime in a report on Friday, August 26th.
In related news, VP Leonard J. Vrondissis sold 14,312 shares of Gener8 Maritime stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $5.30, for a total value of $75,853.60. Following the completion of the transaction, the vice president now directly owns 9,583 shares in the company, valued at approximately $50,789.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.