Insider Selling: Bristow Group (NYSE:VTOL) Director Sells 3,000 Shares of Stock

Key Points

• Director Lorin Brass sold 3,000 Bristow Group shares at an average price of $42.42, totaling $127,260 and reducing his ownership by 17.42% to 14,223 shares.
• VTOL shares recently traded near $42.73, while the company’s latest quarterly earnings of $0.70 per share missed estimates of $0.89. Bristow reported revenue above expectations and maintains a quarterly dividend of $0.125 per share, equivalent to a 1.2% yield.
• Analysts have a consensus “Moderate Buy” rating with a $60 target price, and institutional investors own 93.29% of the company.

Bristow Group Inc. (NYSE:VTOL - Get Free Report) Director Lorin Brass sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $42.42, for a total transaction of $127,260.00. Following the transaction, the director owned 14,223 shares of the company's stock, valued at approximately $603,339.66. This represents a 17.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bristow Group Price Performance

Shares of VTOL stock traded down $0.06 during trading hours on Wednesday, reaching $42.73. The company's stock had a trading volume of 195,018 shares, compared to its average volume of 232,827. The firm's 50 day simple moving average is $44.68 and its 200-day simple moving average is $44.52. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.31 and a beta of 1.19. Bristow Group Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $50.38. The company has a quick ratio of 1.85, a current ratio of 2.26 and a debt-to-equity ratio of 0.66.

Bristow Group (NYSE:VTOL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.19). Bristow Group had a return on equity of 9.82% and a net margin of 6.66%.The business had revenue of $411.75 million for the quarter, compared to the consensus estimate of $407.28 million. Sell-side analysts forecast that Bristow Group Inc. will post 3.31 earnings per share for the current year.

Bristow Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Bristow Group's dividend payout ratio is currently 14.41%.

Hedge Funds Weigh In On Bristow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in VTOL. Engineers Gate Manager LP lifted its holdings in shares of Bristow Group by 17.4% during the second quarter. Engineers Gate Manager LP now owns 6,160 shares of the company's stock worth $255,000 after purchasing an additional 914 shares during the period. Integrated Wealth Concepts LLC bought a new position in Bristow Group during the 2nd quarter worth $42,000. Squarepoint Ops LLC lifted its holdings in Bristow Group by 10.6% during the 2nd quarter. Squarepoint Ops LLC now owns 57,920 shares of the company's stock worth $2,393,000 after buying an additional 5,533 shares during the period. Allworth Financial LP lifted its holdings in Bristow Group by 128.3% during the 2nd quarter. Allworth Financial LP now owns 1,032 shares of the company's stock worth $43,000 after buying an additional 580 shares during the period. Finally, Nykredit A S bought a new stake in shares of Bristow Group in the 2nd quarter valued at about $27,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research upgraded shares of Bristow Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bristow Group in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

About Bristow Group

Bristow Group Inc is a provider of helicopter and aviation services for government and commercial customers. The company transports personnel and equipment, supports offshore energy operations, and provides aviation solutions in challenging or remote environments. Its services include helicopter transportation, search-and-rescue operations, aircraft maintenance, and aviation logistics.

Bristow serves the offshore energy industry, including oil and gas companies and other offshore operators.

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