Varde Management L.P. Invests $1.55 Million in Tidewater Inc. (NYSE:TDW)

Varde Management L.P. acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,390 shares of the oil and gas company's stock, valued at approximately $1,553,000. Tidewater accounts for approximately 1.3% of Varde Management L.P.'s portfolio, making the stock its 5th largest position. Varde Management L.P. owned approximately 0.05% of Tidewater as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in shares of Tidewater during the 4th quarter worth $33,000. AlphaQuest LLC increased its holdings in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after buying an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the 4th quarter valued at approximately $53,000. EverSource Wealth Advisors LLC grew its holdings in shares of Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 333 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after purchasing an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research analyst reports. Evercore ISI cut Tidewater from an "outperform" rating to an "in-line" rating and dropped their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Trading Up 1.4 %

Shares of Tidewater stock traded up $0.45 during trading hours on Wednesday, reaching $32.76. 425,433 shares of the company's stock were exchanged, compared to its average volume of 1,234,416. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 9.64 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42. The company has a fifty day moving average of $43.62 and a 200-day moving average of $52.00.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.33% of the stock is owned by company insiders.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.