Emerald Acquisition Ltd. Invests $785,000 in Bristow Group Inc. (BRS)
Emerald Acquisition Ltd. acquired a new stake in Bristow Group Inc. (NYSE:BRS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 68,739 shares of the company’s stock, valued at approximately $785,000. Emerald Acquisition Ltd. owned 0.20% of Bristow Group at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of Bristow Group by 1.4% in the first quarter. BlackRock Fund Advisors now owns 2,368,139 shares of the company’s stock valued at $44,805,000 after buying an additional 32,136 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Bristow Group by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 200,404 shares of the company’s stock valued at $3,792,000 after buying an additional 58,933 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Bristow Group during the first quarter valued at approximately $198,000. Loomis Sayles & Co. L P raised its position in shares of Bristow Group by 1.2% in the first quarter. Loomis Sayles & Co. L P now owns 799,014 shares of the company’s stock valued at $15,117,000 after buying an additional 9,369 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Bristow Group during the first quarter valued at about $1,743,000.
Shares of Bristow Group Inc. (NYSE:BRS) traded down 1.66% during trading on Friday, hitting $11.87. The company had a trading volume of 498,544 shares. The stock’s 50-day moving average price is $12.33 and its 200 day moving average price is $14.46. Bristow Group Inc. has a 52 week low of $9.17 and a 52 week high of $37.19. The company’s market capitalization is $416.20 million.
Bristow Group (NYSE:BRS) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. Bristow Group had a positive return on equity of 1.16% and a negative net margin of 6.50%. The firm earned $356.10 million during the quarter, compared to the consensus estimate of $383.79 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue was down 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Bristow Group Inc. will post ($1.76) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, August 30th. Bristow Group’s payout ratio is -9.30%.
Several analysts have issued reports on BRS shares. Zacks Investment Research raised Bristow Group from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, August 2nd. Capital One Financial Corp. lowered Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Credit Suisse Group AG reissued a “hold” rating and set a $15.00 price objective on shares of Bristow Group in a research note on Wednesday, June 29th. Finally, Cowen and Company dropped their price objective on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Bristow Group has an average rating of “Hold” and a consensus target price of $19.44.
In other news, insider Jonathan Baliff acquired 8,200 shares of Bristow Group stock in a transaction on Monday, August 15th. The shares were acquired at an average price of $12.12 per share, with a total value of $99,384.00. Following the purchase, the insider now directly owns 50,998 shares in the company, valued at approximately $618,095.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chet Akiri acquired 5,565 shares of Bristow Group stock in a transaction on Monday, August 29th. The stock was purchased at an average cost of $11.62 per share, for a total transaction of $64,665.30. Following the purchase, the insider now owns 5,565 shares in the company, valued at $64,665.30. The disclosure for this purchase can be found here. 9.60% of the stock is owned by company insiders.
About Bristow Group
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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