Era Group Inc. (NYSE:ERA) traded down 7.2% during trading on Tuesday . The company traded as low as $7.80 and last traded at $7.94, with a volume of 53,701 shares. The stock had previously closed at $8.56.

Separately, TheStreet cut shares of Era Group from a “hold” rating to a “sell” rating in a report on Friday, May 6th.

The stock’s 50-day moving average price is $9.23 and its 200 day moving average price is $9.39. The firm’s market capitalization is $165.78 million.

Era Group (NYSE:ERA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company had revenue of $63.40 million for the quarter, compared to the consensus estimate of $67.01 million. Era Group’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS. On average, equities analysts anticipate that Era Group Inc. will post ($0.60) EPS for the current fiscal year.

In other Era Group news, SVP Stuart Stavley purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was bought at an average cost of $8.30 per share, for a total transaction of $29,050.00. Following the purchase, the senior vice president now directly owns 79,562 shares in the company, valued at $660,364.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Other hedge funds and institutional investors have modified their holdings of the company. Eii Capital Management Inc. raised its position in shares of Era Group by 9.6% in the fourth quarter. Eii Capital Management Inc. now owns 183,530 shares of the company’s stock valued at $2,046,000 after buying an additional 16,150 shares during the last quarter. Royce & Associates LLC increased its stake in shares of Era Group by 38.7% in the fourth quarter. Royce & Associates LLC now owns 911,275 shares of the company’s stock valued at $10,161,000 after buying an additional 254,335 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Era Group by 35.5% in the fourth quarter. First Trust Advisors LP now owns 167,244 shares of the company’s stock valued at $1,865,000 after buying an additional 43,797 shares during the period.

Era Group Inc is engaged in operating helicopters. The Company’s helicopters transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. The Company also dry-leases helicopters to third-party helicopter operators and foreign affiliates. The primary users of the Company’s helicopter services are international, integrated and independent oil and gas exploration, development and production companies.

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