Tidewater Inc. (NYSE:TDW) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,893 shares of the oil and gas company's stock after selling 22,445 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.32% of Tidewater worth $9,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Tidewater during the fourth quarter worth about $33,000. AlphaQuest LLC grew its stake in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tidewater in the fourth quarter valued at about $53,000. EverSource Wealth Advisors LLC boosted its holdings in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after buying an additional 333 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Tidewater by 2,018.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock valued at $70,000 after buying an additional 1,211 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Price Performance

Shares of NYSE TDW traded up $1.07 during trading on Friday, reaching $38.44. The company had a trading volume of 1,126,025 shares, compared to its average volume of 1,091,057. The stock has a 50-day moving average price of $39.24 and a two-hundred day moving average price of $49.25. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $111.42. The stock has a market capitalization of $1.98 billion, a PE ratio of 11.31 and a beta of 0.70. 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 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.