GAMMA Investing LLC Has $4.77 Million Stock Position in Tidewater Inc. (NYSE:TDW)

GAMMA Investing LLC grew its stake in Tidewater Inc. (NYSE:TDW) by 24,310.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,776 shares of the oil and gas company’s stock after purchasing an additional 112,314 shares during the quarter. GAMMA Investing LLC owned about 0.22% of Tidewater worth $4,767,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CSS LLC IL bought a new position in Tidewater in the 4th quarter valued at $547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tidewater by 8.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock worth $2,347,000 after acquiring an additional 3,325 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Tidewater by 110.7% during the 4th quarter. Voloridge Investment Management LLC now owns 340,103 shares of the oil and gas company’s stock worth $18,607,000 after acquiring an additional 178,650 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Tidewater by 89.4% during the 4th quarter. Squarepoint Ops LLC now owns 208,744 shares of the oil and gas company’s stock worth $11,420,000 after acquiring an additional 98,522 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Tidewater by 15.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 531,981 shares of the oil and gas company’s stock worth $29,105,000 after acquiring an additional 70,194 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James decreased their target price on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of “Hold” and a consensus target price of $69.33.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. The trade was a 1.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 50,560 shares of company stock valued at $2,077,608 over the last quarter. Corporate insiders own 8.33% of the company’s stock.

Tidewater Trading Up 4.6%

Shares of TDW opened at $47.60 on Wednesday. The firm’s 50-day moving average price is $38.47 and its 200-day moving average price is $45.86. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.00 and a beta of 1.07. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $108.44.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same quarter last year, the company earned $0.89 EPS. Tidewater’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.