Bristow Group Inc. (NYSE:VTOL) Short Interest Up 926.5% in July

Key Points

• Bristow Group Inc. experienced a substantial increase in short interest, rising by 926.5% to a total of 985,400 shares as of July 15th, representing approximately 3.6% of its total shares.
• Insider trading activity included a sale of 1,131 shares by Director Lorin L. Brass and 45,857 shares sold by major shareholder Alternative Asset Manage Solus, indicating a decrease in their positions.
• Bristow Group's stock is currently down 4.2%, trading at $33.12, with a market cap of approximately $952.86 million.

Bristow Group Inc. (NYSE:VTOL - Get Free Report) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 985,400 shares, agrowthof926.5% from the June 30th total of 96,000 shares. Currently,3.6% of the shares of the stock are sold short. Based on an average daily volume of 189,300 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 189,300 shares, the days-to-cover ratio is currently 5.2 days. Currently,3.6% of the shares of the stock are sold short.

Bristow Group Price Performance

Shares of VTOL stock traded up $3.07 on Wednesday, reaching $38.15. The company had a trading volume of 408,784 shares, compared to its average volume of 159,923. The company has a quick ratio of 1.47, a current ratio of 1.84 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.10 billion, a PE ratio of 9.78 and a beta of 1.32. The business's 50-day moving average is $33.62 and its 200 day moving average is $32.42. Bristow Group has a one year low of $25.11 and a one year high of $41.50.

Bristow Group (NYSE:VTOL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.31. Bristow Group had a return on equity of 12.95% and a net margin of 8.09%. The firm had revenue of $376.43 million during the quarter, compared to analyst estimates of $380.00 million.

Insider Transactions at Bristow Group

In other news, Director Lorin L. Brass sold 1,131 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $33.50, for a total transaction of $37,888.50. Following the transaction, the director owned 31,955 shares in the company, valued at approximately $1,070,492.50. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alternative Asset Manage Solus sold 45,857 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 3,076,796 shares of the company's stock, valued at $103,041,898.04. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,085 shares of company stock valued at $1,576,889 in the last quarter. 13.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bristow Group

Several hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its position in shares of Bristow Group by 795.5% in the 4th quarter. Sterling Capital Management LLC now owns 788 shares of the company's stock worth $27,000 after purchasing an additional 700 shares in the last quarter. Federated Hermes Inc. increased its stake in Bristow Group by 74.7% during the 1st quarter. Federated Hermes Inc. now owns 912 shares of the company's stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Bristow Group in the fourth quarter worth approximately $34,000. Strs Ohio purchased a new stake in shares of Bristow Group during the first quarter valued at approximately $44,000. Finally, CWM LLC increased its position in shares of Bristow Group by 208.4% during the second quarter. CWM LLC now owns 1,351 shares of the company's stock valued at $45,000 after acquiring an additional 913 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Bristow Group Company Profile

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.