Insider Buying: Hornbeck Offshore Services (NYSE:HOS) CEO Purchases $500,302.08 in Stock

Key Points

• CEO Todd Hornbeck purchased 91,296 shares for about $500,302 at an average price of $5.48, increasing his stake by 1.56% to 5.95 million shares.
• Hornbeck Offshore reported a quarterly loss of $0.40 per share, missing analyst expectations of $0.19 earnings per share; the company also posted a negative net margin of 5.58%.
• Wall Street Zen downgraded the stock from “buy” to “hold.” Shares opened at $5.58, near their one-year low of $5.14.

Hornbeck Offshore Services, Inc. (NYSE:HOS - Get Free Report) CEO Todd Hornbeck bought 91,296 shares of the company's stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average price of $5.48 per share, with a total value of $500,302.08. Following the transaction, the chief executive officer owned 5,950,514 shares of the company's stock, valued at $32,608,816.72. The trade was a 1.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hornbeck Offshore Services Price Performance

Shares of NYSE:HOS opened at $5.58 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.47 and a current ratio of 2.00. The firm has a market cap of $821.64 million, a PE ratio of -19.91 and a beta of 1.31. The business's 50 day simple moving average is $7.47. Hornbeck Offshore Services, Inc. has a one year low of $5.14 and a one year high of $11.13.

Hornbeck Offshore Services (NYSE:HOS - Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.59). Hornbeck Offshore Services had a negative net margin of 5.58% and a positive return on equity of 3.12%. During the same period last year, the business posted $0.28 earnings per share. Equities research analysts anticipate that Hornbeck Offshore Services, Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen cut Hornbeck Offshore Services from a "buy" rating to a "hold" rating in a research note on Monday.

Hedge Funds Weigh In On Hornbeck Offshore Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC acquired a new position in shares of Hornbeck Offshore Services in the 3rd quarter valued at $25,000. Group One Trading LLC bought a new stake in shares of Hornbeck Offshore Services in the 3rd quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in Hornbeck Offshore Services during the 3rd quarter worth $28,000. Versant Capital Management Inc acquired a new stake in Hornbeck Offshore Services during the 3rd quarter worth $37,000. Finally, State of Wyoming bought a new position in Hornbeck Offshore Services during the third quarter worth about $62,000. 91.33% of the stock is owned by institutional investors.

About Hornbeck Offshore Services

Hornbeck Offshore Services provides marine transportation and support services for the offshore oil and gas industry. Its fleet includes offshore supply vessels and multi-purpose support vessels that carry equipment and supplies, assist with construction and subsea work, and support exploration, development and production activities. Founded in 1997, the company has focused on serving deepwater and other demanding offshore operations. Its vessels and services support customers in the U.S. Gulf of Mexico and select international markets.

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