FNY Investment Advisers LLC Grows Stock Holdings in Tidewater Inc. (NYSE:TDW)

FNY Investment Advisers LLC boosted its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 391.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,598 shares of the oil and gas company's stock after acquiring an additional 6,848 shares during the period. FNY Investment Advisers LLC's holdings in Tidewater were worth $363,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Exchange Traded Concepts LLC grew its stake in Tidewater by 710.8% during the first quarter. Exchange Traded Concepts LLC now owns 15,510 shares of the oil and gas company's stock valued at $656,000 after acquiring an additional 13,597 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Tidewater during the first quarter valued at $254,000. CX Institutional purchased a new position in Tidewater during the first quarter valued at $2,260,000. GAMMA Investing LLC grew its stake in Tidewater by 477.5% during the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock valued at $113,000 after acquiring an additional 2,206 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Tidewater by 16.5% during the first quarter. Harbor Capital Advisors Inc. now owns 179,510 shares of the oil and gas company's stock valued at $7,588,000 after acquiring an additional 25,398 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert Robotti purchased 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the purchase, the director now owns 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 25,560 shares of company stock valued at $1,074,858 in the last three months. Corporate insiders own 8.33% of the company's stock.

Tidewater Price Performance

Shares of NYSE:TDW traded down $0.09 on Thursday, reaching $46.99. The company's stock had a trading volume of 806,051 shares, compared to its average volume of 1,080,837. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $108.44. The company has a market cap of $2.33 billion, a P/E ratio of 14.07 and a beta of 1.07. The company has a 50-day simple moving average of $40.02 and a 200 day simple moving average of $45.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. During the same period in the previous year, the company posted $0.89 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial cut their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $69.33.

Tidewater Company Profile

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.