SEACOR Marine (NYSE:SMHI) Stock Price Up 5.4% - Here's What Happened

Key Points

• SEACOR Marine shares rose 5.4% to about $8.71, although trading volume was slightly below average.
• The company reported quarterly adjusted earnings of $0.12 per share, significantly beating the $1.24-per-share loss analysts expected, while revenue also exceeded estimates.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $10 average price target; insiders have sold about $1.81 million of stock over the past 90 days.

SEACOR Marine Holdings Inc. (NYSE:SMHI - Get Free Report) traded up 5.4% on Monday. The stock traded as high as $8.72 and last traded at $8.7130. 86,135 shares changed hands during trading, a decline of 5% from the average session volume of 90,384 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of SEACOR Marine in a research report on Friday, July 17th. One 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.00.

SEACOR Marine Trading Up 5.4%

The stock's fifty day moving average price is $9.32 and its 200 day moving average price is $8.13. The stock has a market capitalization of $236.38 million, a P/E ratio of -12.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.38 and a quick ratio of 2.35.

SEACOR Marine (NYSE:SMHI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($1.24) by $1.36. SEACOR Marine had a negative net margin of 8.62% and a negative return on equity of 8.72%. The firm had revenue of $54.63 million during the quarter, compared to the consensus estimate of $45.60 million. Research analysts forecast that SEACOR Marine Holdings Inc. will post -2.02 earnings per share for the current year.

Insider Activity

In other news, CFO Jesús Llorca sold 4,000 shares of SEACOR Marine stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $10.00, for a total value of $40,000.00. Following the transaction, the chief financial officer owned 382,981 shares of the company's stock, valued at $3,829,810. The trade was a 1.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Everett, II sold 4,116 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 value of $41,160.00. Following the completion of the sale, the vice president directly owned 194,279 shares of the company's stock, valued at approximately $1,942,790. This represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 194,909 shares of company stock worth $1,808,687. Corporate insiders own 16.80% of the company's stock.

Institutional Trading of SEACOR Marine

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in SEACOR Marine during the 2nd quarter worth approximately $12,188,000. Robotti Robert acquired a new position in SEACOR Marine in the 2nd quarter valued at $5,456,000. Flat Footed LLC purchased a new position in SEACOR Marine in the 2nd quarter valued at $5,230,895. Renaissance Technologies LLC grew its holdings in shares of SEACOR Marine by 1.8% during the first quarter. Renaissance Technologies LLC now owns 120,400 shares of the company's stock worth $862,000 after buying an additional 2,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in SEACOR Marine by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 53,553 shares of the company's stock worth $383,000 after acquiring an additional 3,937 shares during the last quarter. Institutional investors and hedge funds own 59.05% of the company's stock.

SEACOR Marine Company Profile

SEACOR Marine Holdings Inc NYSE: SMHI provides marine transportation and support services to customers operating in offshore energy and other marine industries. Its services support offshore oil and natural gas exploration and production, offshore wind farm construction and maintenance, and related maritime activities.

The company operates a fleet of offshore support vessels, including platform supply vessels, fast support vessels, crew transport vessels, anchor-handling tug supply vessels and other specialized craft.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.