Robotti Robert Purchases New Shares in SEACOR Marine Holdings Inc. $SMHI

Key Points

• Robotti Robert acquired 713,219 shares of SEACOR Marine in the second quarter, worth approximately $5.46 million and representing 2.63% of the company; institutional investors collectively own 59.05% of the stock.
• SEACOR Marine reported quarterly EPS of $0.12, beating estimates by $1.36, while revenue of $54.63 million exceeded expectations. Despite the earnings beat, analysts’ consensus rating remains Hold, with a $10 average price target.
• SMHI was trading at $9.87, near its one-year high of $9.96, while company insiders sold 266,147 shares worth about $2.34 million over the past 90 days.

Robotti Robert acquired a new stake in shares of SEACOR Marine Holdings Inc. (NYSE:SMHI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 713,219 shares of the company's stock, valued at approximately $5,456,000. SEACOR Marine comprises 0.9% of Robotti Robert's investment portfolio, making the stock its 28th biggest holding. Robotti Robert owned 2.63% of SEACOR Marine as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Glenorchy Capital Ltd raised its position in shares of SEACOR Marine by 2.5% during the 2nd quarter. Glenorchy Capital Ltd now owns 185,232 shares of the company's stock valued at $945,000 after buying an additional 4,574 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of SEACOR Marine by 289.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,962 shares of the company's stock valued at $51,000 after acquiring an additional 7,406 shares during the last quarter. JPMorgan Chase & Co. grew its position in SEACOR Marine by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 171,390 shares of the company's stock worth $1,112,000 after acquiring an additional 29,955 shares in the last quarter. BNP Paribas Financial Markets grew its position in SEACOR Marine by 75.1% in the third quarter. BNP Paribas Financial Markets now owns 3,962 shares of the company's stock worth $26,000 after acquiring an additional 1,699 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in SEACOR Marine by 197.4% during the third quarter. Raymond James Financial Inc. now owns 15,065 shares of the company's stock worth $98,000 after acquiring an additional 10,000 shares during the last quarter. 59.05% of the stock is owned by hedge funds and other institutional investors.

SEACOR Marine Trading Up 0.5%

SMHI opened at $9.87 on Wednesday. The stock has a market cap of $267.64 million, a price-to-earnings ratio of -13.89 and a beta of 1.10. The stock's 50 day moving average price is $8.19 and its 200-day moving average price is $7.67. SEACOR Marine Holdings Inc. has a one year low of $5.55 and a one year high of $9.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.35 and a current ratio of 2.38.

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

Wall Street Analyst Weigh In

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

Insider Transactions at SEACOR Marine

In other news, CAO Gregory Scott Rossmiller sold 27,741 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $9.16, for a total value of $254,107.56. Following the transaction, the chief accounting officer directly owned 244,506 shares in the company, valued at approximately $2,239,674.96. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jesus Llorca sold 5,927 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $9.78, for a total transaction of $57,966.06. Following the completion of the transaction, the chief financial officer directly owned 388,289 shares in the company, valued at $3,797,466.42. This represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 266,147 shares of company stock worth $2,337,152. 16.80% of the stock is currently owned by insiders.

SEACOR Marine Profile

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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