Billionaire Marc Lasry’s Huge New Tanker Bet And Top Picks

Let’s now move on to Lasry’s second-most valuable holding, Gener8 Maritime Inc. (NYSE:GNRT), which represents his only new positon initiated during the second quarter. Lasry reported owning 7.21 million shares of the provider of seaborne crude oil transportation services, which are valued at $98.31 million as of June 30. The company went public a little over a month ago, offering 15 million shares of common stock at a price of $14.00 apiece. Gener8 Maritime has also recently reported the results from its first quarterly earnings release post-IPO. The company reported net income of $19.9 million or $0.38 per diluted share for the second quarter of this year, compared to a net loss of $33.3 million or $1.05 per share reported in the same quarter a year ago. In the meantime, the company’s voyage revenues came to $116.5 million, up by $33.2 million year-over-year. Howard Marks’ Oaktree Capital Management, one of the many hedge funds that we track, is among the largest shareholders of Gener8 Maritime Inc. (NYSE:GNRT), owning a stake of 13.05 million shares as of June 30.

Lasry held his position in Meritor Inc. (NYSE:MTOR) unchanged during the latest quarter, at nearly 7.21 million shares. It’s worth noting that the value of the stake increased during the quarter, being valued at $94.56 million as of June 30. The shares of Meritor, a leading global supplier of drivetrain, mobility, braking, and aftermarket solutions, have lost nearly 8% since the start of 2015, though as alluded to, they were up in the second quarter, by about 4%. Analyst Neil Frohnapple from equity research firm, Longbow Research, has recently upgraded the grading on Meritor to “Buy” from “Neutral” and placed a new price target of $17 on the stock. This represents an upside potential of nearly 22%, with the analyst believing that Meritor can achieve this potential since the company is well-positioned to deliver faster earnings growth than its industry peers. Frohnapple has asserted that Meritor has been able to deliver strong earnings growth in a challenging end-market, despite facing revenues declines. Larry Robbins’ Glenview Capital is among the hedge funds within our database that are bullish on Meritor Inc. (NYSE:MTOR), holding a stake of 7.52 million shares as of June 30.

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