SEACOR Marine (NYSE:SMHI) Stock Crosses Below 50-Day Moving Average - Here's Why

Key Points

• SEACOR Marine shares fell below their 50-day moving average of $8.92, reaching a low of $8.69 and last trading at $8.778.
• Analysts have a consensus Hold rating and a $10 average price target; ratings are split among one Buy, one Hold, and one Sell.
• The company reported quarterly EPS of -$0.36, beating the -$0.61 estimate, and revenue of $57.25 million, above the $52.99 million consensus.

SEACOR Marine Holdings Inc. (NYSE:SMHI - Get Free Report)'s share price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $8.92 and traded as low as $8.69. SEACOR Marine shares last traded at $8.7780, with a volume of 294,631 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SEACOR Marine in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.00.

SEACOR Marine Stock Performance

The stock has a market cap of $238.15 million, a P/E ratio of -6.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.20 and a quick ratio of 2.17. The firm's 50-day moving average price is $8.92 and its 200-day moving average price is $8.09.

SEACOR Marine (NYSE:SMHI - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.25. The firm had revenue of $57.25 million for the quarter, compared to the consensus estimate of $52.99 million. SEACOR Marine had a negative net margin of 17.55% and a negative return on equity of 14.51%. Sell-side analysts expect that SEACOR Marine Holdings Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Transactions at SEACOR Marine

In other news, CFO Jesús Llorca sold 4,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.00, for a total transaction of $40,000.00. Following the completion of the transaction, the chief financial officer owned 382,981 shares in the company, valued at $3,829,810. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Andrew Everett, II sold 4,116 shares of SEACOR Marine stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.00, for a total value of $41,160.00. Following the completion of the sale, the vice president directly owned 194,279 shares in the company, valued at $1,942,790. This trade represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,924 shares of company stock valued at $118,759. Company insiders own 16.80% of the company's stock.

Institutional Trading of SEACOR Marine

Several hedge funds have recently modified their holdings of the company. Flat Footed LLC bought a new position in shares of SEACOR Marine during the 2nd quarter valued at approximately $5,230,895. BlackRock Inc. purchased a new position in shares of SEACOR Marine in the second quarter valued at $12,188,000. Robotti Robert bought a new stake in SEACOR Marine in the second quarter worth $5,456,000. Bank of New York Mellon Corp bought a new stake in SEACOR Marine in the second quarter worth $402,000. Finally, HighTower Advisors LLC increased its position in SEACOR Marine by 34.3% in the third quarter. HighTower Advisors LLC now owns 173,220 shares of the company's stock worth $1,407,000 after purchasing an additional 44,232 shares during the last quarter. 59.05% of the stock is owned by hedge funds and other institutional investors.

About SEACOR Marine

SEACOR Marine Holdings Inc. NYSE: SMHI provides marine transportation and support services to the offshore oil and gas industry. Its vessels help move personnel, equipment and supplies between shore bases and offshore installations. The company operates a range of offshore support vessels, including platform supply vessels, anchor-handling towing supply vessels and crew transport vessels. Its services also support offshore logistics, towing and anchor handling, and other marine operations. SEACOR Marine serves customers in international offshore markets, including regions in the Americas, West Africa and the Middle East.

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