Bristow Group (NYSE:VTOL) Stock Price Up 8.7% Following Earnings Beat

Bristow Group Inc. (NYSE:VTOL)’s stock price rose 8.7% on Wednesday following a better than expected earnings announcement. The company traded as high as $39.08 and last traded at $38.15. Approximately 15,866 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 157,255 shares. The stock had previously closed at $35.08.

The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.76 by $0.31. Bristow Group had a net margin of 8.24% and a return on equity of 13.13%. The business had revenue of $376.43 million during the quarter, compared to analysts’ expectations of $380.00 million.

Insider Buying and Selling at Bristow Group

In related news, major shareholder Alternative Asset Manage Solus sold 45,857 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $33.49, for a total transaction of $1,535,750.93. Following the completion of the transaction, the insider owned 3,076,796 shares in the company, valued at approximately $103,041,898.04. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lorin L. Brass sold 1,131 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $33.50, for a total transaction of $37,888.50. Following the completion of the sale, the director owned 31,955 shares of the company’s stock, valued at approximately $1,070,492.50. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,085 shares of company stock valued at $1,576,889 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristow Group

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Bristow Group by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,621,027 shares of the company’s stock valued at $55,600,000 after acquiring an additional 48,852 shares during the last quarter. Empyrean Capital Partners LP lifted its stake in Bristow Group by 4.6% in the first quarter. Empyrean Capital Partners LP now owns 1,130,000 shares of the company’s stock valued at $35,685,000 after acquiring an additional 50,000 shares during the last quarter. Taconic Capital Advisors LP lifted its stake in Bristow Group by 4.9% in the fourth quarter. Taconic Capital Advisors LP now owns 1,097,927 shares of the company’s stock valued at $37,659,000 after acquiring an additional 50,900 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Bristow Group by 17.7% in the first quarter. Brown Advisory Inc. now owns 1,009,740 shares of the company’s stock valued at $31,888,000 after purchasing an additional 151,784 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Bristow Group by 14.5% in the first quarter. American Century Companies Inc. now owns 663,001 shares of the company’s stock valued at $20,938,000 after purchasing an additional 84,061 shares during the period. Institutional investors and hedge funds own 93.29% of the company’s stock.

Bristow Group Price Performance

The company has a market capitalization of $1.10 billion, a P/E ratio of 9.51 and a beta of 1.32. The company’s 50-day moving average price is $33.79 and its two-hundred day moving average price is $32.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.84 and a quick ratio of 1.47.

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.