Swiss National Bank Sells 16,500 Shares of Gener8 Maritime Inc (GNRT)
Swiss National Bank cut its position in Gener8 Maritime Inc (NASDAQ:GNRT) by 18.2% during the second quarter, Holdings Channel reports. The institutional investor owned 74,100 shares of the company’s stock after selling 16,500 shares during the period. Swiss National Bank owned about 0.09% of Gener8 Maritime worth $474,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GNRT. James Investment Research Inc. acquired a new stake in shares of Gener8 Maritime during the second quarter worth about $574,000. Bank of New York Mellon Corp raised its stake 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 worth $1,140,000 after buying an additional 47,780 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake 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 worth $527,000 after buying an additional 45,967 shares during the last quarter.
Shares of Gener8 Maritime Inc (NASDAQ:GNRT) traded down 0.492% on Monday, hitting $5.055. The stock had a trading volume of 70,460 shares. The firm’s 50-day moving average price is $5.27 and its 200 day moving average price is $6.19. Gener8 Maritime Inc has a 12 month low of $4.70 and a 12 month high of $11.97. The firm has a market cap of $417.95 million and a P/E ratio of 2.358.
Gener8 Maritime (NASDAQ:GNRT) last announced 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 firm had revenue of $105.96 million for the quarter, compared to analysts’ expectations of $109.89 million. Gener8 Maritime’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Analysts anticipate that Gener8 Maritime Inc will post $1.85 EPS for the current fiscal year.
A number of brokerages have issued reports on GNRT. Zacks Investment Research lowered Gener8 Maritime from a “hold” rating to a “strong sell” rating in a research note on Thursday. Jefferies Group reiterated a “buy” rating on shares of Gener8 Maritime in a research note on Monday, September 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $5.00 price target (down previously from $9.00) on shares of Gener8 Maritime in a research note on Friday, August 26th. Finally, Citigroup Inc. cut their price target on Gener8 Maritime from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, July 28th.
In other news, VP Leonard J. Vrondissis sold 14,312 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $5.30, for a total transaction of $75,853.60. Following the sale, the vice president now directly owns 9,583 shares of the company’s stock, valued at $50,789.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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.
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