Royce & Associates LP Cuts Stock Holdings in Bristow Group Inc. (NYSE:VTOL)

Key Points

• Royce & Associates LP has reduced its stake in Bristow Group Inc. by 5.3%, selling 19,500 shares to own approximately 345,865 shares, valuing their holdings at around $10.9 million.
• Bristow Group recently reported $0.92 earnings per share for the quarter, exceeding analyst expectations of $0.58, although revenue fell slightly short of estimates at $350.53 million.
• The stock price of Bristow Group is currently down 2.5%, with shares trading at $35.96, while the company's market cap stands at over $1 billion.

Royce & Associates LP cut its position in Bristow Group Inc. (NYSE:VTOL - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,865 shares of the company's stock after selling 19,500 shares during the period. Royce & Associates LP owned about 1.20% of Bristow Group worth $10,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of VTOL. New York State Teachers Retirement System grew its stake in Bristow Group by 10.2% during the first quarter. New York State Teachers Retirement System now owns 18,389 shares of the company's stock valued at $581,000 after acquiring an additional 1,706 shares in the last quarter. SG Americas Securities LLC grew its stake in Bristow Group by 244.6% during the first quarter. SG Americas Securities LLC now owns 17,870 shares of the company's stock valued at $564,000 after acquiring an additional 12,684 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Bristow Group during the first quarter valued at $451,000. GAMMA Investing LLC lifted its position in Bristow Group by 3,773.3% during the first quarter. GAMMA Investing LLC now owns 23,085 shares of the company's stock valued at $731,000 after purchasing an additional 22,489 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Bristow Group by 17.3% during the fourth quarter. Nuveen Asset Management LLC now owns 75,121 shares of the company's stock valued at $2,577,000 after purchasing an additional 11,061 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Alternative Asset Manage Solus sold 45,857 shares of the firm's 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 sale, the insider owned 3,076,796 shares in the company, valued at approximately $103,041,898.04. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorin L. Brass sold 1,131 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $33.50, for a total transaction of $37,888.50. Following the completion of the sale, the director owned 31,955 shares of the company's stock, valued at $1,070,492.50. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,085 shares of company stock valued at $1,576,889 in the last 90 days. Company insiders own 13.40% of the company's stock.

Bristow Group Price Performance

VTOL stock traded up $0.06 during trading on Tuesday, hitting $36.31. 64,332 shares of the company's stock traded hands, compared to its average volume of 157,848. Bristow Group Inc. has a 52 week low of $25.11 and a 52 week high of $41.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 1.84. The business has a fifty day simple moving average of $32.95 and a 200 day simple moving average of $32.45. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.30 and a beta of 1.34.

Bristow Group (NYSE:VTOL - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.58 by $0.34. The business had revenue of $350.53 million during the quarter, compared to analyst estimates of $353.00 million. Bristow Group had a net margin of 8.09% and a return on equity of 12.95%.

Bristow Group 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.