Bristow Group (NYSE:VTOL) Trading 8.7% Higher Following Better-Than-Expected Earnings

Key Points

• Bristow Group's shares rose by 8.7% to $38.15 following a quarterly earnings report that exceeded analysts' expectations, with an EPS of $1.07 compared to the consensus of $0.76.
• The company's revenue for the quarter was reported at $376.43 million, slightly below the anticipated $380.00 million, highlighting a net margin of 8.09%.
• Several institutional investors, including the New York State Teachers Retirement System, have recently increased their stakes in Bristow Group, indicating positive investor confidence in the company.

Bristow Group Inc. (NYSE:VTOL - Get Free Report) shares traded up 8.7% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $39.08 and last traded at $38.15. 15,866 shares traded hands during trading, a decline of 90% from the average session volume of 157,255 shares. The stock had previously closed at $35.08.

The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.31. The business had revenue of $376.43 million for the quarter, compared to analysts' expectations of $380.00 million. Bristow Group had a return on equity of 12.95% and a net margin of 8.09%.

Insider Activity

In related news, Director Lorin L. Brass sold 1,131 shares of Bristow Group stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $33.50, for a total value of $37,888.50. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alternative Asset Manage Solus sold 45,857 shares of Bristow Group stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $33.49, for a total value of $1,535,750.93. Following the completion of the transaction, the insider owned 3,076,796 shares of the company's stock, valued at approximately $103,041,898.04. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,085 shares of company stock worth $1,576,889 over the last ninety days. Insiders own 13.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System boosted its holdings in shares of Bristow Group by 10.2% in the first quarter. New York State Teachers Retirement System now owns 18,389 shares of the company's stock valued at $581,000 after purchasing an additional 1,706 shares during the period. SG Americas Securities LLC raised its stake in Bristow Group by 244.6% in the first quarter. SG Americas Securities LLC now owns 17,870 shares of the company's stock worth $564,000 after buying an additional 12,684 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Bristow Group in the first quarter worth approximately $451,000. GAMMA Investing LLC raised its stake in Bristow Group by 3,773.3% in the first quarter. GAMMA Investing LLC now owns 23,085 shares of the company's stock worth $731,000 after buying an additional 22,489 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Bristow Group by 17.3% in the fourth quarter. Nuveen Asset Management LLC now owns 75,121 shares of the company's stock worth $2,577,000 after buying an additional 11,061 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company's stock.

Bristow Group Stock Up 8.8%

The company has a market cap of $1.10 billion, a P/E ratio of 9.79 and a beta of 1.32. 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 business's 50 day moving average is $33.62 and its 200 day moving average is $32.42.

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.

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