Short Interest in Bristow Group Inc. (NYSE:VTOL) Declines By 17.7%
by Kim Johansen · The Markets DailyBristow Group Inc. (NYSE:VTOL – Get Free Report) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 710,856 shares, a drop of 17.7% from the January 29th total of 863,564 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 189,912 shares, the short-interest ratio is presently 3.7 days. Based on an average daily volume of 189,912 shares, the short-interest ratio is presently 3.7 days. Currently, 2.8% of the shares of the company are short sold.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday. JonesTrading started coverage on shares of Bristow Group in a research note on Friday, January 23rd. They issued a “buy” rating on the stock. Raymond James Financial initiated coverage on Bristow Group in a report on Tuesday, February 17th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Zacks Research raised Bristow Group to a “hold” rating in a report on Thursday, February 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.
View Our Latest Research Report on Bristow Group
Insider Transactions at Bristow Group
In other news, CFO Jennifer Dawn Whalen sold 26,667 shares of Bristow Group stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $46.90, for a total transaction of $1,250,682.30. Following the completion of the sale, the chief financial officer owned 108,241 shares of the company’s stock, valued at approximately $5,076,502.90. This trade represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wesley E. Kern sold 3,079 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $46.83, for a total transaction of $144,189.57. Following the completion of the transaction, the director owned 32,000 shares in the company, valued at $1,498,560. This trade represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 57,904 shares of company stock valued at $2,725,426. Company insiders own 13.40% of the company’s stock.
Hedge Funds Weigh In On Bristow Group
A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Bristow Group during the 2nd quarter worth $25,000. Clearstead Advisors LLC raised its position in shares of Bristow Group by 1,450.7% during the fourth quarter. Clearstead Advisors LLC now owns 1,070 shares of the company’s stock worth $39,000 after acquiring an additional 1,001 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Bristow Group by 1,645.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock worth $41,000 after acquiring an additional 1,053 shares during the period. Strs Ohio acquired a new position in shares of Bristow Group in the first quarter worth approximately $44,000. Finally, CWM LLC boosted its holdings in Bristow Group by 208.4% in the second quarter. CWM LLC now owns 1,351 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
Bristow Group Price Performance
VTOL stock traded down $0.78 during midday trading on Wednesday, reaching $44.77. 199,774 shares of the stock were exchanged, compared to its average volume of 213,558. Bristow Group has a 52 week low of $25.11 and a 52 week high of $49.55. The company has a fifty day moving average price of $42.64 and a 200 day moving average price of $39.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.54. The stock has a market capitalization of $1.31 billion, a PE ratio of 10.36 and a beta of 1.35.
Bristow Group (NYSE:VTOL – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.15. Bristow Group had a return on equity of 12.87% and a net margin of 8.66%.The company had revenue of $377.26 million for the quarter, compared to analysts’ expectations of $380.33 million.
Bristow Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Friday, March 13th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, March 13th.
Bristow Group Company Profile
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.