Empyrean Capital Partners LP Buys 50,000 Shares of Bristow Group Inc. $VTOL

Key Points

• Empyrean Capital Partners LP increased its stake in Bristow Group Inc. by 4.6% in Q1, owning 1,130,000 shares valued at approximately $35.7 million.
• Insider transactions included Director Robert Manzo selling 10,000 shares and CFO Jennifer Dawn Whalen selling 5,000 shares, indicating a decrease in their positions.
• Bristow Group's recent earnings report showed an EPS of $1.07, exceeding estimates, although revenue fell short at $376.43 million against expectations of $380 million.

Empyrean Capital Partners LP increased its stake in shares of Bristow Group Inc. (NYSE:VTOL - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,130,000 shares of the company's stock after acquiring an additional 50,000 shares during the period. Bristow Group comprises about 1.3% of Empyrean Capital Partners LP's portfolio, making the stock its 18th largest position. Empyrean Capital Partners LP owned about 3.93% of Bristow Group worth $35,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Bristow Group by 74.7% during the first quarter. Federated Hermes Inc. now owns 912 shares of the company's stock worth $29,000 after acquiring an additional 390 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Bristow Group during the fourth quarter worth $118,000. Aquatic Capital Management LLC acquired a new stake in shares of Bristow Group during the fourth quarter worth $142,000. PNC Financial Services Group Inc. raised its holdings in shares of Bristow Group by 38.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,159 shares of the company's stock worth $131,000 after acquiring an additional 1,147 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Bristow Group during the first quarter worth $180,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Alternative Asset Manage Solus sold 45,857 shares of Bristow Group stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $33.49, for a total value of $1,535,750.93. Following the completion of the transaction, the insider owned 3,076,796 shares of the company's stock, valued at $103,041,898.04. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jennifer Dawn Whalen sold 5,000 shares of Bristow Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $37.55, for a total transaction of $187,750.00. Following the completion of the transaction, the chief financial officer directly owned 94,203 shares of the company's stock, valued at approximately $3,537,322.65. This trade represents a 5.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,666 shares of company stock valued at $2,867,992 in the last quarter. Company insiders own 13.40% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Bristow Group from a "hold" rating to a "buy" rating in a report on Friday.

Bristow Group Stock Up 1.1%

Bristow Group stock traded up $0.40 during mid-day trading on Friday, reaching $37.74. The company's stock had a trading volume of 216,614 shares, compared to its average volume of 150,830. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.41 and a beta of 1.28. Bristow Group Inc. has a 12 month low of $25.11 and a 12 month high of $39.31. The business's 50 day simple moving average is $36.34 and its 200 day simple moving average is $32.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.44 and a current ratio of 1.81.

Bristow Group (NYSE:VTOL - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.31. The business had revenue of $376.43 million during the quarter, compared to the consensus estimate of $380.00 million. Bristow Group had a net margin of 8.24% and a return on equity of 12.86%. Bristow Group has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS.

Bristow Group Company Profile

Bristow Group Inc provides vertical flight solutions. The company primarily offers aviation services to integrated, national, and independent offshore energy companies and government agencies. It also provides personnel transportation, search and rescue, medevac, ad hoc helicopter, fixed wing transportation, unmanned systems, and ad-hoc helicopter services, as well as logistical and maintenance support, training services, and flight and maintenance crews.