Jump Financial LLC Purchases New Position in Tidewater Inc. $TDW

Key Points

• Jump Financial LLC acquired 5,705 shares of Tidewater Inc. valued at approximately $241,000, marking a new investment position in the company.
• Tidewater reported a strong quarterly performance with $1.23 EPS, significantly exceeding the consensus estimate of $0.28 and showcasing a slight year-over-year revenue increase.
• The company has initiated a $500 million stock repurchase plan, indicating that the board believes the stock is undervalued.

Jump Financial LLC bought a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,705 shares of the oil and gas company's stock, valued at approximately $241,000.

Several other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock valued at $29,000 after buying an additional 650 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Tidewater in the first quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater in the 1st quarter valued at $40,000. Caitong International Asset Management Co. Ltd increased its holdings in Tidewater by 2,510.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 954 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Tidewater by 33.3% during the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the completion of the transaction, the executive vice president owned 75,986 shares of the company's stock, valued at approximately $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company's stock.

Tidewater Trading Up 1.5%

Shares of Tidewater stock traded up $0.87 on Monday, reaching $58.60. The company had a trading volume of 310,860 shares, compared to its average volume of 1,044,301. The firm's 50-day moving average price is $53.82 and its two-hundred day moving average price is $45.59. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $79.43. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 15.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.95. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the business posted $0.94 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. As a group, research analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its board has initiated a share buyback plan on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Evercore ISI increased their price target on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Finally, BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

About Tidewater

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.