BlackRock Inc. Acquires New Shares in SEACOR Marine Holdings Inc. $SMHI

Key Points

• BlackRock acquired 1.59 million SEACOR Marine shares during the second quarter, worth approximately $12.2 million, giving it a 5.87% stake. Institutional investors collectively own 59.05% of the company.
• Analyst sentiment remains mixed, with one Buy, one Hold, and one Sell rating; the consensus rating is Hold with a $10 price target. Company insiders have sold 278,071 shares worth about $2.46 million over the past three months.
• SEACOR Marine reported quarterly revenue of $54.63 million and EPS of $0.12, exceeding analyst expectations, although it continues to report negative net margins and analysts expect a full-year loss.

BlackRock Inc. acquired a new position in shares of SEACOR Marine Holdings Inc. (NYSE:SMHI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,593,198 shares of the company's stock, valued at approximately $12,188,000. BlackRock Inc. owned 5.87% of SEACOR Marine as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in SEACOR Marine by 75.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,962 shares of the company's stock valued at $26,000 after acquiring an additional 1,699 shares in the last quarter. Royal Bank of Canada increased its stake in SEACOR Marine by 781.0% during the 1st quarter. Royal Bank of Canada now owns 5,718 shares of the company's stock worth $41,000 after buying an additional 5,069 shares during the period. Tower Research Capital LLC TRC lifted its holdings in SEACOR Marine by 289.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,962 shares of the company's stock worth $51,000 after buying an additional 7,406 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in SEACOR Marine during the 4th quarter worth approximately $60,000. Finally, Raymond James Financial Inc. boosted its position in SEACOR Marine by 197.4% in the 3rd quarter. Raymond James Financial Inc. now owns 15,065 shares of the company's stock valued at $98,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 59.05% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of SEACOR Marine in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.00.

Insider Buying and Selling

In other news, CAO Gregory Rossmiller sold 27,741 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $9.16, for a total transaction of $254,107.56. Following the transaction, the chief accounting officer directly owned 244,506 shares in the company, valued at $2,239,674.96. The trade was a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jesús Llorca sold 4,000 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $10.00, for a total value of $40,000.00. Following the transaction, the chief financial officer directly owned 382,981 shares in the company, valued at $3,829,810. This represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,071 shares of company stock valued at $2,455,911 over the last three months. 16.80% of the stock is currently owned by company insiders.

SEACOR Marine Stock Performance

Shares of SMHI opened at $9.75 on Friday. The company's 50 day simple moving average is $8.81 and its 200-day simple moving average is $7.91. The firm has a market cap of $264.55 million, a PE ratio of -13.73 and a beta of 1.08. SEACOR Marine Holdings Inc. has a 12-month low of $5.55 and a 12-month high of $10.00. The company has a current ratio of 2.38, a quick ratio of 2.35 and a debt-to-equity ratio of 1.15.

SEACOR Marine (NYSE:SMHI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $1.36. SEACOR Marine had a negative net margin of 8.62% and a negative return on equity of 8.72%. The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $45.60 million. As a group, equities analysts predict that SEACOR Marine Holdings Inc. will post -2.02 EPS for the current year.

About SEACOR Marine

SEACOR Marine NYSE: SMHI is a U.S.-based provider of offshore marine transportation and support services, offering a fleet of platform supply vessels (PSVs), crew transfer vessels, and specialty craft designed for the energy sector. The company serves clients engaged in offshore oil and gas exploration and production, as well as emerging offshore wind and renewable energy projects. Its services include cargo and personnel transfer, subsea support, emergency response, and project logistics.

Formed through the combination of SEACOR Holdings' offshore marine division and acquired assets from Hornbeck Offshore Services, SEACOR Marine brings together a broad range of technical expertise and vessel capabilities.

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