Royce & Associates LP Trims 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 shares of 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 quarter. Royce & Associates LP owned approximately 1.20% of Bristow Group worth $10,922,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC increased its stake in shares of Bristow Group by 795.5% during the 4th quarter. Sterling Capital Management LLC now owns 788 shares of the company's stock valued at $27,000 after acquiring an additional 700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Bristow Group in the fourth quarter worth approximately $34,000. BNP Paribas Financial Markets purchased a new stake in Bristow Group in the fourth quarter valued at approximately $118,000. Aquatic Capital Management LLC acquired a new position in Bristow Group during the fourth quarter worth approximately $142,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Bristow Group during the first quarter worth approximately $180,000. Institutional investors and hedge funds own 93.29% of the company's stock.

Bristow Group Stock Down 2.5%

Shares of VTOL opened at $35.96 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of 9.22 and a beta of 1.34. The company's fifty day moving average is $32.82 and its two-hundred day moving average is $32.47. Bristow Group Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $41.50. The company has a quick ratio of 1.47, a current ratio of 1.84 and a debt-to-equity ratio of 0.73.

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

Insider Transactions at Bristow Group

In related news, major shareholder Alternative Asset Manage Solus sold 45,857 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $33.49, for a total transaction of $1,535,750.93. Following the completion of the sale, the insider owned 3,076,796 shares of the company's stock, valued at approximately $103,041,898.04. This represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorin L. Brass sold 1,131 shares of Bristow Group stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $33.50, for a total transaction of $37,888.50. Following the transaction, the director directly owned 31,955 shares in the company, valued at approximately $1,070,492.50. This trade represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,085 shares of company stock valued at $1,576,889 in the last quarter. Company insiders own 13.40% of the company's stock.

About Bristow Group

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.

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