Algert Global LLC Boosts Position in Bristow Group Inc. $VTOL

Key Points

• Algert Global increased its Bristow Group stake by 17.1% in the second quarter, purchasing 59,858 additional shares and bringing its holdings to 410,059 shares valued at approximately $16.9 million. Institutional investors collectively own 93.29% of VTOL.
• Bristow reported quarterly EPS of $0.70, missing the $0.89 consensus estimate, while revenue of $411.75 million exceeded expectations. The company maintains a $0.125 quarterly dividend, equivalent to a 1.1% annual yield.
• Analyst sentiment remains moderately positive, with three Buy ratings and one Hold rating and a consensus price target of $60, compared with the stock’s opening price of $45.88.

Algert Global LLC boosted its stake in shares of Bristow Group Inc. (NYSE:VTOL - Free Report) by 17.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,059 shares of the company's stock after buying an additional 59,858 shares during the quarter. Algert Global LLC owned approximately 1.38% of Bristow Group worth $16,944,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Bristow Group during the 2nd quarter valued at $25,000. Clearstead Advisors LLC lifted its holdings in shares of Bristow Group by 1,450.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,070 shares of the company's stock worth $39,000 after buying an additional 1,001 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Bristow Group by 1,645.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company's stock worth $41,000 after buying an additional 1,053 shares in the last quarter. Allworth Financial LP bought a new position in shares of Bristow Group during the 2nd quarter worth $43,000. Finally, Strs Ohio purchased a new position in shares of Bristow Group during the first quarter valued at $44,000. 93.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bristow Group

In other Bristow Group news, COO Stuart Stavley sold 10,218 shares of Bristow Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $46.20, for a total value of $472,071.60. Following the transaction, the chief operating officer directly owned 64,740 shares of the company's stock, valued at approximately $2,990,988. The trade was a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorin L. Brass sold 1,890 shares of Bristow Group stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $46.56, for a total transaction of $87,998.40. Following the completion of the transaction, the director directly owned 18,873 shares in the company, valued at $878,726.88. This represents a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,948 shares of company stock valued at $599,055. 12.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VTOL shares. Zacks Research upgraded Bristow Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Bristow Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bristow Group in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Bristow Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Bristow Group Stock Performance

Shares of Bristow Group stock opened at $45.88 on Tuesday. The company has a market capitalization of $1.36 billion, a PE ratio of 13.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.85 and a current ratio of 2.26. The company has a 50-day simple moving average of $44.19 and a two-hundred day simple moving average of $44.84. Bristow Group Inc. has a one year low of $35.03 and a one year high of $50.38.

Bristow Group (NYSE:VTOL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.19). Bristow Group had a net margin of 6.66% and a return on equity of 9.82%. The firm had revenue of $411.75 million for the quarter, compared to analysts' expectations of $407.28 million. Research analysts expect that Bristow Group Inc. will post 3.31 EPS for the current fiscal year.

Bristow Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 14th. Bristow Group's dividend payout ratio (DPR) is 14.41%.

Bristow Group Profile

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow's operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world's most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.

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