Kanawha Capital Management LLC increased its position in Tidewater Inc. (NYSE:TDW) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 85,450 shares of the company’s stock after buying an additional 1,700 shares during the period. Kanawha Capital Management LLC’s holdings in Tidewater were worth $377,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors L.L.C. raised its stake in shares of Tidewater by 4.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 78,300 shares of the company’s stock worth $535,000 after buying an additional 3,300 shares during the period. Lesa Sroufe & Co raised its stake in shares of Tidewater by 1.5% in the second quarter. Lesa Sroufe & Co now owns 395,817 shares of the company’s stock worth $1,746,000 after buying an additional 5,686 shares during the period. Geode Capital Management LLC raised its stake in shares of Tidewater by 6.9% in the first quarter. Geode Capital Management LLC now owns 300,580 shares of the company’s stock worth $2,052,000 after buying an additional 19,351 shares during the period. Menta Capital LLC bought a new stake in shares of Tidewater during the first quarter worth about $143,000. Finally, Bank of Montreal Can bought a new stake in shares of Tidewater during the second quarter worth about $142,000.
Tidewater Inc. (NYSE:TDW) traded down 1.61% during trading on Friday, hitting $3.06. 416,247 shares of the stock traded hands. The stock’s market cap is $144.03 million. The company has a 50-day moving average price of $3.04 and a 200 day moving average price of $4.93. Tidewater Inc. has a one year low of $2.16 and a one year high of $16.64.
Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing the consensus estimate of ($0.74) by $1.15. Tidewater had a negative net margin of 27.81% and a negative return on equity of 3.68%. The business earned $167.90 million during the quarter, compared to the consensus estimate of $169.75 million. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s revenue was down 44.9% compared to the same quarter last year. Analysts expect that Tidewater Inc. will post ($4.27) earnings per share for the current year.
Several research firms have weighed in on TDW. Morgan Stanley set a $4.50 target price on shares of Tidewater and gave the company a “sell” rating in a research note on Thursday, August 11th. Zacks Investment Research lowered shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Johnson Rice lowered shares of Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Argus reiterated a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $10.17.
Tidewater Company Profile
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.
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