Schwab Charles Investment Management Inc. Acquires 36,514 Shares of Gener8 Maritime Inc (NASDAQ:GNRT)

Schwab Charles Investment Management Inc. increased its stake in Gener8 Maritime Inc (NASDAQ:GNRT) by 15.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,454 shares of the shipping company’s stock after purchasing an additional 36,514 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.33% of Gener8 Maritime worth $1,556,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in shares of Gener8 Maritime by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 29,905 shares of the shipping company’s stock worth $171,000 after purchasing an additional 700 shares during the period. Alliancebernstein L.P. grew its position in Gener8 Maritime by 4.7% in the first quarter. Alliancebernstein L.P. now owns 24,600 shares of the shipping company’s stock worth $139,000 after acquiring an additional 1,100 shares in the last quarter. American International Group Inc. grew its position in Gener8 Maritime by 7.1% in the first quarter. American International Group Inc. now owns 24,173 shares of the shipping company’s stock worth $137,000 after acquiring an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp grew its position in Gener8 Maritime by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 222,466 shares of the shipping company’s stock worth $1,261,000 after acquiring an additional 2,254 shares in the last quarter. Finally, Aperio Group LLC grew its position in Gener8 Maritime by 27.0% in the second quarter. Aperio Group LLC now owns 50,607 shares of the shipping company’s stock worth $288,000 after acquiring an additional 10,761 shares in the last quarter.

Shares of Gener8 Maritime Inc (NASDAQ GNRT) traded down $0.07 during trading hours on Friday, hitting $4.77. 209,700 shares of the company’s stock were exchanged, compared to its average volume of 467,092. Gener8 Maritime Inc has a 1-year low of $3.55 and a 1-year high of $6.16.

Gener8 Maritime (NASDAQ:GNRT) last released its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.06). Gener8 Maritime had a negative net margin of 110.14% and a negative return on equity of 23.25%. The business had revenue of $47.89 million during the quarter, compared to analysts’ expectations of $47.06 million. During the same period last year, the company earned ($0.01) earnings per share. The firm’s revenue was down 30.7% on a year-over-year basis.

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Several analysts have issued reports on the stock. ValuEngine lowered shares of Gener8 Maritime from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of Gener8 Maritime from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded shares of Gener8 Maritime from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Gener8 Maritime in a research note on Thursday, October 19th. Finally, TheStreet upgraded shares of Gener8 Maritime from a “d” rating to a “c-” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Gener8 Maritime has an average rating of “Hold” and an average target price of $10.00.

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.

Institutional Ownership by Quarter for Gener8 Maritime (NASDAQ:GNRT)

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