Bristow Group (NYSE:VTOL) Stock Price Down 6% Following Insider Selling

Bristow Group Inc. (NYSE:VTOL) fell 6% during trading on Thursday following insider selling activity. The company traded as low as $36.33 and last traded at $36.59. 38,422 shares were traded during mid-day trading, a decline of 69% from the average session volume of 122,501 shares. The stock had previously closed at $38.93.

Specifically, major shareholder Alternative Asset Manage Solus sold 75,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $39.50, for a total transaction of $2,962,500.00. Following the completion of the transaction, the insider now owns 3,349,005 shares in the company, valued at approximately $132,285,697.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

Separately, Benchmark increased their price objective on shares of Bristow Group from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Bristow Group Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.86 and a quick ratio of 1.53. The firm has a market capitalization of $1.02 billion, a PE ratio of 898.00 and a beta of 1.31. The firm has a fifty day moving average price of $36.37 and a 200 day moving average price of $31.98.

Bristow Group (NYSE:VTOL) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.96 EPS for the quarter. The firm had revenue of $359.75 million during the quarter. Bristow Group had a net margin of 2.27% and a return on equity of 3.79%.

Institutional Trading of Bristow Group

Several institutional investors have recently made changes to their positions in VTOL. nVerses Capital LLC acquired a new stake in shares of Bristow Group during the 2nd quarter valued at $64,000. Innealta Capital LLC purchased a new position in Bristow Group in the second quarter valued at about $74,000. Perennial Advisors LLC acquired a new position in Bristow Group in the 2nd quarter worth about $235,000. Bailard Inc. purchased a new stake in shares of Bristow Group during the 2nd quarter worth about $241,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bristow Group during the 2nd quarter worth about $303,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

About Bristow Group

Bristow Group Inc provides vertical flight solutions. The company primarily offers aviation services to integrated, national, and independent offshore energy companies and government agencies. It also provides personnel transportation, search and rescue, medevac, ad hoc helicopter, fixed wing transportation, unmanned systems, and ad-hoc helicopter services, as well as logistical and maintenance support, training services, and flight and maintenance crews.