How Is Smart Money Trading Gener8 Maritime Inc (GNRT)?

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Judging by the fact that Gener8 Maritime Inc (NYSE:GNRT) has witnessed a slight decline in interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of fund managers that slashed their full holdings in the third quarter. It’s worth mentioning that Michael A. Price and Amos Meron’s Empyrean Capital Partners cut the largest investment of the “upper crust” of funds followed by Insider Monkey, totaling an estimated $8.2 million in stock, and Barry Rosenstein’s JANA Partners was right behind this move, as the fund cut about $4.8 million worth. These transactions are important to note, as aggregate hedge fund interest dropped by 1 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Gener8 Maritime Inc (NYSE:GNRT) but similarly valued. We will take a look at Atara Biotherapeutics Inc (NASDAQ:ATRA), Flotek Industries Inc (NYSE:FTK), Rapid7 Inc (NASDAQ:RPD), and Globe Specialty Metals, Inc. (NASDAQ:GSM). This group of stocks’ market valuations are similar to GNRT’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ATRA 11 293741 2
FTK 13 173981 -1
RPD 5 13391 5
GSM 23 238916 -4

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $180 million, significantly below $493 million in GNRT’s case. Globe Specialty Metals, Inc. (NASDAQ:GSM) is the most popular stock in this table. On the other hand Rapid7 Inc (NASDAQ:RPD) is the least popular one with only 5 bullish hedge fund positions. Gener8 Maritime Inc (NYSE:GNRT) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GSM might be a better candidate to consider a long position.

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