232,097 Shares in Tidewater Inc. $TDW Acquired by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management acquired 232,097 Tidewater shares worth approximately $15.5 million, representing about 0.47% of the company. Institutional investors collectively own 95.13% of Tidewater.
• Tidewater’s EVP Samuel R. Rubio sold 17,705 shares for approximately $1.62 million, reducing his direct ownership by 34.77%; insiders now own 5.90% of the stock.
• Analysts’ consensus rating is Hold with a $91 target price. Tidewater recently reported $0.43 in quarterly EPS—below the $0.46 estimate—while revenue of $342.3 million exceeded expectations.

TimesSquare Capital Management LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 232,097 shares of the oil and gas company's stock, valued at approximately $15,465,000. TimesSquare Capital Management LLC owned approximately 0.47% of Tidewater at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TDW. Blue Trust Inc. acquired a new position in Tidewater in the first quarter worth $26,000. Longview Financial Advisors Inc. acquired a new stake in shares of Tidewater in the first quarter valued at $54,000. Parallel Advisors LLC increased its stake in shares of Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company's stock valued at $64,000 after buying an additional 208 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock valued at $44,000 after buying an additional 158 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock worth $46,000 after buying an additional 870 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Activity at Tidewater

In related news, EVP Samuel R. Rubio sold 17,705 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, the executive vice president directly owned 33,214 shares of the company's stock, valued at $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings downgraded shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a research note on Thursday, June 11th. Finally, Barclays raised their price target on shares of Tidewater from $86.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Tidewater presently has an average rating of "Hold" and a consensus target price of $91.00.

Tidewater Price Performance

Tidewater stock opened at $93.99 on Tuesday. The business's 50-day simple moving average is $74.92 and its 200 day simple moving average is $77.14. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 19.03 and a beta of 0.53. Tidewater Inc. has a 12-month low of $46.65 and a 12-month high of $95.32. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. Tidewater's revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current year.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.

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