Empyrean Capital Partners LP lowered its stake in Bristow Group Inc. (NYSE:VTOL – Free Report) by 4.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,214,599 shares of the company’s stock after selling 61,401 shares during the period. Bristow Group makes up approximately 1.6% of Empyrean Capital Partners LP’s portfolio, making the stock its 20th largest position. Empyrean Capital Partners LP’s holdings in Bristow Group were worth $44,479,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of VTOL. Encompass Capital Advisors LLC purchased a new stake in Bristow Group in the 4th quarter valued at approximately $25,613,000. Boston Partners purchased a new stake in Bristow Group in the 4th quarter valued at approximately $13,486,000. Kestrel Investment Management Corp purchased a new stake in Bristow Group in the 3rd quarter valued at approximately $4,876,000. Arrowstreet Capital Limited Partnership lifted its stake in Bristow Group by 176.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 210,768 shares of the company’s stock valued at $7,605,000 after buying an additional 134,616 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Bristow Group in the 4th quarter valued at approximately $4,012,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Wall Street Zen downgraded Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bristow Group in a report on Friday, May 29th. Finally, Zacks Research downgraded Bristow Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bristow Group currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.
Bristow Group Trading Down 1.6%
Shares of VTOL opened at $42.46 on Thursday. The stock has a fifty day moving average of $44.89 and a two-hundred day moving average of $43.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.15. The company has a market capitalization of $1.26 billion, a PE ratio of 11.06 and a beta of 1.22. Bristow Group Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $50.38.
Bristow Group (NYSE:VTOL – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.57). The business had revenue of $388.71 million during the quarter, compared to analyst estimates of $383.68 million. Bristow Group had a net margin of 7.51% and a return on equity of 11.10%. As a group, analysts forecast that Bristow Group Inc. will post 3.87 EPS for the current year.
Bristow Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, May 15th. Bristow Group’s dividend payout ratio is presently 13.02%.
Insider Activity at Bristow Group
In other news, Director Lorin L. Brass sold 1,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director directly owned 17,455 shares in the company, valued at $785,475. This represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.40% of the stock is currently owned by insiders.
About Bristow Group
Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.
The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.
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