Man Group plc purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 39,519 shares of the oil and gas company's stock, valued at approximately $2,162,000. Man Group plc owned about 0.08% of Tidewater as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the business. Marathon Partners Equity Management LLC acquired a new position in shares of Tidewater during the 4th quarter valued at about $1,368,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tidewater by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,757 shares of the oil and gas company's stock valued at $1,519,000 after buying an additional 1,063 shares during the period. Lloyd Harbor Capital Management LLC acquired a new stake in shares of Tidewater during the 4th quarter worth $6,588,000. J. Goldman & Co LP purchased a new position in shares of Tidewater in the 4th quarter worth $1,191,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Tidewater in the 4th quarter worth $1,010,000. Hedge funds and other institutional investors own 95.13% of the company's stock.
Insider Activity
In related news, Director Robert Robotti purchased 25,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the acquisition, the director now directly owns 2,208,670 shares in the company, valued at $88,589,753.70. The trade was a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.33% of the company's stock.
Tidewater Stock Down 0.2%
Shares of NYSE:TDW traded down $0.09 during midday trading on Wednesday, hitting $41.24. 144,792 shares of the company's stock traded hands, compared to its average volume of 1,138,969. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market cap of $2.04 billion, a PE ratio of 12.15 and a beta of 1.00. The firm's fifty day moving average price is $38.51 and its two-hundred day moving average price is $46.55. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44.
Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. On average, 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 reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Tidewater has an average rating of "Hold" and a consensus target price of $69.33.
Check Out Our Latest Stock Analysis on TDW
About Tidewater
(
Free Report)
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.
Further Reading
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