Insider Selling: Bristow Group (NYSE:VTOL) Insider Sells $2,494,866.00 in Stock

Key Points

• Solus sold 61,800 Bristow Group shares at an average of $40.37, worth about $2.49 million, reducing its stake by 2.18% to 2,778,636 shares.
• Bristow’s latest quarter fell short of expectations: earnings were $0.93 per share versus a $1.15 consensus, while revenue was $437.92 million against estimates of $443.25 million.
• Analysts’ consensus rating was Moderate Buy, with a $63 price target; the company also announced a $0.125 quarterly dividend, equivalent to a 1.2% annual yield.

Bristow Group Inc. (NYSE:VTOL - Get Free Report) insider Alternative Asset Manage Solus sold 61,800 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $40.37, for a total value of $2,494,866.00. Following the sale, the insider directly owned 2,778,636 shares in the company, valued at $112,173,535.32. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alternative Asset Manage Solus also recently made the following trade(s):

• On Friday, November 13th, Alternative Asset Manage Solus sold 5,000 shares of Bristow Group stock. The shares were sold at an average price of $40.38, for a total value of $201,900.00.
• On Thursday, November 12th, Alternative Asset Manage Solus sold 1,800 shares of Bristow Group stock. The stock was sold at an average price of $41.45, for a total value of $74,610.00.
• On Wednesday, November 11th, Alternative Asset Manage Solus sold 5,000 shares of Bristow Group stock. The stock was sold at an average price of $41.02, for a total value of $205,100.00.
• On Wednesday, September 23rd, Alternative Asset Manage Solus sold 897 shares of Bristow Group stock. The stock was sold at an average price of $43.00, for a total value of $38,571.00.
• On Tuesday, September 22nd, Alternative Asset Manage Solus sold 377 shares of Bristow Group stock. The shares were sold at an average price of $43.00, for a total value of $16,211.00.
• On Monday, September 14th, Alternative Asset Manage Solus sold 3,000 shares of Bristow Group stock. The shares were sold at an average price of $43.03, for a total value of $129,090.00.
• On Friday, September 11th, Alternative Asset Manage Solus sold 5,000 shares of Bristow Group stock. The shares were sold at an average price of $43.00, for a total value of $215,000.00.
• On Thursday, September 3rd, Alternative Asset Manage Solus sold 41 shares of Bristow Group stock. The shares were sold at an average price of $45.75, for a total value of $1,875.75.
• On Wednesday, September 2nd, Alternative Asset Manage Solus sold 12,045 shares of Bristow Group stock. The stock was sold at an average price of $45.68, for a total value of $550,215.60.
• On Tuesday, September 1st, Alternative Asset Manage Solus sold 15,000 shares of Bristow Group stock. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00.

Bristow Group Stock Performance

Shares of NYSE VTOL traded down $0.31 during midday trading on Friday, reaching $40.38. 302,876 shares of the stock were exchanged, compared to its average volume of 234,800. The company has a quick ratio of 1.57, a current ratio of 1.99 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 15.07 and a beta of 1.22. The firm has a 50-day simple moving average of $40.84 and a two-hundred day simple moving average of $43.87. Bristow Group Inc. has a twelve month low of $35.65 and a twelve month high of $50.38.

Bristow Group (NYSE:VTOL - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.22). Bristow Group had a net margin of 4.98% and a return on equity of 7.47%. The firm had revenue of $437.92 million during the quarter, compared to analyst estimates of $443.25 million. As a group, analysts anticipate that Bristow Group Inc. will post 2.94 EPS for the current fiscal year.

Bristow Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $0.1250 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. Bristow Group's dividend payout ratio is 18.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VTOL. Bank of America Corp DE acquired a new position in Bristow Group during the second quarter worth $3,015,000. Legal & General Group Plc purchased a new position in Bristow Group during the second quarter valued at $1,960,000. BlackRock Inc. purchased a new position in Bristow Group during the second quarter valued at $162,017,000. Corient Private Wealth LP acquired a new stake in shares of Bristow Group in the second quarter valued at about $1,431,000. Finally, Algert Global LLC grew its position in shares of Bristow Group by 17.1% in the second quarter. Algert Global LLC now owns 410,059 shares of the company's stock valued at $16,944,000 after purchasing an additional 59,858 shares during the period. Hedge funds and other institutional investors own 93.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VTOL shares. Weiss Ratings lowered shares of Bristow Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. Zacks Research lowered Bristow Group from a "hold" rating to a "strong sell" rating in a research note on Friday, November 6th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $63.00 price target on shares of Bristow Group in a report on Thursday, November 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

About Bristow Group

Bristow Group, Inc. provides helicopter and other aviation services, primarily supporting offshore energy operations and government customers. Its services include transporting personnel and supplies to offshore installations, as well as search-and-rescue operations and related aviation support. The company serves customers across several regions, including the Americas, Europe, Africa and Australia. Its operations include contracted search-and-rescue services in parts of Europe and the United Kingdom, alongside aviation services for the energy industry.

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