Macquarie Group Ltd. decreased its stake in Bristow Group Inc. (NYSE:BRS) by 69.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,700 shares of the company’s stock after selling 88,773 shares during the period. Macquarie Group Ltd. owned about 0.11% of Bristow Group worth $453,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of Bristow Group by 54.4% in the second quarter. Public Employees Retirement System of Ohio now owns 8,724 shares of the company’s stock valued at $100,000 after buying an additional 3,072 shares in the last quarter. Commonwealth Equity Services Inc acquired a new position in shares of Bristow Group during the second quarter valued at approximately $114,000. Freestone Capital Holdings LLC acquired a new position in shares of Bristow Group during the second quarter valued at approximately $114,000. Paloma Partners Management Co acquired a new position in shares of Bristow Group during the second quarter valued at approximately $117,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Bristow Group during the second quarter valued at approximately $121,000.
Bristow Group Inc. (NYSE:BRS) opened at 13.26 on Thursday. Bristow Group Inc. has a 12-month low of $9.17 and a 12-month high of $37.19. The stock’s 50 day moving average price is $11.88 and its 200-day moving average price is $14.80. The firm’s market cap is $464.94 million.
Bristow Group (NYSE:BRS) last announced its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.21. The company had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $383.79 million. Bristow Group had a negative net margin of 6.50% and a positive return on equity of 1.16%. Bristow Group’s quarterly revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Equities research analysts anticipate that Bristow Group Inc. will post ($1.76) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.11%. Bristow Group’s dividend payout ratio is presently -9.30%.
Several research analysts have recently commented on the company. Credit Suisse Group AG reiterated a “hold” rating and set a $15.00 target price on shares of Bristow Group in a research note on Wednesday, June 29th. Barclays PLC raised Bristow Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $22.00 to $20.00 in a report on Monday, June 6th. Cowen and Company dropped their price target on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Zacks Investment Research raised Bristow Group from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, August 2nd. Finally, Capital One Financial Corp. cut Bristow Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.20.
In related news, insider Chet Akiri bought 5,565 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was acquired at an average cost of $11.62 per share, for a total transaction of $64,665.30. Following the purchase, the insider now owns 5,565 shares in the company, valued at $64,665.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan Baliff bought 8,200 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were bought at an average price of $12.12 per share, with a total value of $99,384.00. Following the completion of the purchase, the insider now owns 50,998 shares in the company, valued at approximately $618,095.76. The disclosure for this purchase can be found here. Company insiders own 9.60% of the company’s stock.
Bristow Group Company Profile
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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