Gabelli Funds LLC bought a new position in Gener8 Maritime Inc (NYSE:GNRT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 196,191 shares of the shipping company’s stock, valued at approximately $1,299,000.

A number of other hedge funds have also bought and sold shares of GNRT. Schwab Charles Investment Management Inc. boosted its holdings in shares of Gener8 Maritime by 10.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,118 shares of the shipping company’s stock worth $2,140,000 after buying an additional 31,106 shares during the period. Royce & Associates LP boosted its holdings in shares of Gener8 Maritime by 11.0% during the 3rd quarter. Royce & Associates LP now owns 960,526 shares of the shipping company’s stock worth $4,332,000 after buying an additional 95,500 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Gener8 Maritime by 65.3% during the 3rd quarter. Wells Fargo & Company MN now owns 44,684 shares of the shipping company’s stock worth $201,000 after buying an additional 17,645 shares during the period. Smith Moore & CO. bought a new stake in shares of Gener8 Maritime during the 3rd quarter worth $158,000. Finally, First Trust Advisors LP bought a new stake in shares of Gener8 Maritime during the 3rd quarter worth $296,000. 76.03% of the stock is owned by institutional investors.

Several research firms recently issued reports on GNRT. BidaskClub raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley upped their price objective on shares of Gener8 Maritime from $5.50 to $7.00 and gave the stock an “equal weight” rating in a report on Monday. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “strong sell” rating in a report on Monday, October 23rd. Citigroup downgraded shares of Gener8 Maritime from a “buy” rating to a “neutral” rating in a report on Tuesday, January 23rd. Finally, Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.92.

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

Gener8 Maritime (NYSE:GNRT) last released 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 company had revenue of $47.89 million for the quarter, compared to analyst estimates of $47.06 million. Gener8 Maritime had a negative net margin of 34.10% and a positive return on equity of 1.16%. Gener8 Maritime’s revenue for the quarter was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. equities analysts predict that Gener8 Maritime Inc will post -0.28 earnings per share for the current year.

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Gener8 Maritime 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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