BlueMountain Capital Management LLC continued to hold its position in shares of Gener8 Maritime Inc (NASDAQ:GNRT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,842,904 shares of the shipping company’s stock at the close of the 2nd quarter. Gener8 Maritime comprises approximately 0.9% of BlueMountain Capital Management LLC’s holdings, making the stock its 17th biggest holding. BlueMountain Capital Management LLC owned 9.45% of Gener8 Maritime worth $44,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNRT. FMR LLC increased its holdings in shares of Gener8 Maritime by 617.8% in the first quarter. FMR LLC now owns 3,249,043 shares of the shipping company’s stock valued at $18,422,000 after purchasing an additional 2,796,417 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Gener8 Maritime by 8.8% in the second quarter. Royce & Associates LP now owns 865,026 shares of the shipping company’s stock valued at $4,922,000 after purchasing an additional 70,000 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Gener8 Maritime by 26.0% in the second quarter. Kennedy Capital Management Inc. now owns 748,175 shares of the shipping company’s stock valued at $4,257,000 after purchasing an additional 154,342 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Gener8 Maritime by 7.1% in the first quarter. Geode Capital Management LLC now owns 619,452 shares of the shipping company’s stock valued at $3,512,000 after purchasing an additional 41,146 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Gener8 Maritime by 12.5% in the second quarter. Schroder Investment Management Group now owns 565,159 shares of the shipping company’s stock valued at $3,250,000 after purchasing an additional 62,598 shares during the last quarter.

Several research firms have commented on GNRT. BidaskClub downgraded shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. ValuEngine downgraded shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Gener8 Maritime in a report on Monday, August 7th. Finally, TheStreet upgraded shares of Gener8 Maritime from a “d” rating to a “c-” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Gener8 Maritime currently has an average rating of “Hold” and an average price target of $10.00.

Gener8 Maritime Inc (NASDAQ:GNRT) traded up 0.85% during trading on Friday, hitting $4.77. 94,229 shares of the company’s stock traded hands. Gener8 Maritime Inc has a 52-week low of $3.52 and a 52-week high of $5.69. The company’s 50 day moving average price is $4.63 and its 200 day moving average price is $4.79. The company’s market cap is $395.85 million.

Gener8 Maritime (NASDAQ:GNRT) last released its earnings results on Tuesday, August 1st. The shipping company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.05). The business had revenue of $74.95 million for the quarter, compared to the consensus estimate of $76.55 million. Gener8 Maritime had a negative return on equity of 23.25% and a negative net margin of 110.14%. The company’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts expect that Gener8 Maritime Inc will post ($0.02) 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 (NASDAQ:GNRT)

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