Bristow Group (NYSE:VTOL) Shares Up 3.2% – Here’s What Happened

Bristow Group Inc. (NYSE:VTOL) was up 3.2% on Monday . The company traded as high as $39.16 and last traded at $38.5520. Approximately 233,847 shares traded hands during mid-day trading, an increase of 61% from the average daily volume of 145,339 shares. The stock had previously closed at $37.34.

Analyst Upgrades and Downgrades

VTOL has been the topic of several recent analyst reports. Wall Street Zen upgraded Bristow Group from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bristow Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Bristow Group Stock Up 3.2%

The company has a quick ratio of 1.53, a current ratio of 1.91 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.11 billion, a PE ratio of 8.07 and a beta of 1.39. The company’s fifty day moving average is $37.48 and its 200-day moving average is $36.95.

Bristow Group (NYSE:VTOL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.78. The firm had revenue of $386.29 million for the quarter, compared to analysts’ expectations of $400.00 million. Bristow Group had a return on equity of 14.83% and a net margin of 9.71%.

Insider Transactions at Bristow Group

In other news, major shareholder Alternative Asset Manage Solus sold 200,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $38.05, for a total transaction of $7,610,000.00. Following the completion of the sale, the insider owned 2,876,796 shares of the company’s stock, valued at $109,462,087.80. This represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lorin L. Brass sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $38.00, for a total transaction of $95,000.00. Following the completion of the transaction, the director directly owned 21,705 shares in the company, valued at approximately $824,790. The trade was a 10.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 221,000 shares of company stock valued at $8,417,775. 13.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bristow Group

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Bristow Group by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,138 shares of the company’s stock valued at $8,303,000 after purchasing an additional 10,273 shares during the period. Caxton Associates LLP purchased a new stake in Bristow Group in the 3rd quarter worth $464,000. Van Den Berg Management I Inc. increased its stake in Bristow Group by 90.4% in the 3rd quarter. Van Den Berg Management I Inc. now owns 58,340 shares of the company’s stock worth $2,105,000 after buying an additional 27,701 shares in the last quarter. Millennium Management LLC raised its holdings in Bristow Group by 757.1% during the third quarter. Millennium Management LLC now owns 90,564 shares of the company’s stock valued at $3,268,000 after acquiring an additional 79,998 shares during the period. Finally, Invenomic Capital Management LP lifted its position in shares of Bristow Group by 15.7% in the third quarter. Invenomic Capital Management LP now owns 132,596 shares of the company’s stock valued at $4,784,000 after acquiring an additional 18,003 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors.

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.