Capstone Asset Management Co. reduced its stake in shares of Bristow Group Inc. (NYSE:BRS) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,376 shares of the company’s stock after selling 140 shares during the period. Capstone Asset Management Co.’s holdings in Bristow Group were worth $216,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Bristow Group by 54.4% in the second quarter. Public Employees Retirement System of Ohio now owns 8,724 shares of the company’s stock valued at $100,000 after buying an additional 3,072 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in shares of Bristow Group during the second quarter valued at $114,000. Commonwealth Equity Services Inc bought a new stake in shares of Bristow Group during the second quarter valued at $114,000. Paloma Partners Management Co bought a new stake in shares of Bristow Group during the second quarter valued at $117,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Bristow Group during the first quarter valued at $198,000.
Shares of Bristow Group Inc. (NYSE:BRS) traded down 2.94% during midday trading on Wednesday, reaching $12.55. The company had a trading volume of 903,835 shares. The stock’s market capitalization is $440.04 million. The firm’s 50 day moving average price is $12.33 and its 200-day moving average price is $14.49. Bristow Group Inc. has a 1-year low of $9.17 and a 1-year high of $37.19.
Bristow Group (NYSE:BRS) last announced its earnings results on Thursday, August 4th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. The company earned $356.10 million during the quarter, compared to analysts’ expectations of $383.79 million. Bristow Group had a positive return on equity of 1.16% and a negative net margin of 6.50%. Bristow Group’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. Equities research analysts expect that Bristow Group Inc. will post ($1.76) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 30th. Bristow Group’s dividend payout ratio (DPR) is -9.30%.
Several brokerages have weighed in on BRS. Zacks Investment Research upgraded Bristow Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Cowen and Company decreased their target price on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Capital One Financial Corp. downgraded Bristow Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $15.00 target price on shares of Bristow Group in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.44.
In other Bristow Group news, insider Jonathan Baliff purchased 8,200 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $12.12 per share, with a total value of $99,384.00. Following the purchase, the insider now owns 50,998 shares of the company’s stock, valued at $618,095.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chet Akiri purchased 5,565 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average cost of $11.62 per share, with a total value of $64,665.30. Following the completion of the purchase, the insider now directly owns 5,565 shares in the company, valued at approximately $64,665.30. The disclosure for this purchase can be found here. 9.60% of the stock is owned by insiders.
Bristow Group Company Profile
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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