Bristow Group Inc. (BRS) Trading Up 5.4% on Insider Buying Activity
Bristow Group Inc. (NYSE:BRS) shares were up 5.4% during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $15.39 and last traded at $14.96, with a volume of 1,431,356 shares changing hands. The stock had previously closed at $14.20.
Specifically, Director Ian Godden acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were bought at an average cost of $13.71 per share, with a total value of $27,420.00. Following the transaction, the director now owns 28,673 shares of the company’s stock, valued at approximately $393,106.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chet Akiri acquired 5,565 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were purchased at an average cost of $11.62 per share, for a total transaction of $64,665.30. Following the completion of the transaction, 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 currently owned by insiders.
Several analysts recently commented on BRS shares. Zacks Investment Research raised shares of Bristow Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Capital One Financial Corp. downgraded shares of Bristow Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, August 16th. Cowen and Company cut their price objective on shares of Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, September 1st. Finally, Barclays PLC downgraded shares of Bristow Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $16.00 in a research report on Tuesday, November 8th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Bristow Group currently has an average rating of “Hold” and a consensus price target of $19.00.
The firm’s market cap is $525.02 million. The firm has a 50-day moving average of $12.35 and a 200 day moving average of $12.74.
Bristow Group (NYSE:BRS) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.12. The firm earned $343.70 million during the quarter, compared to the consensus estimate of $371.86 million. Bristow Group had a positive return on equity of 0.32% and a negative net margin of 6.01%. The firm’s quarterly revenue was down 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. On average, equities analysts expect that Bristow Group Inc. will post ($1.59) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.28 annualized dividend and a yield of 1.87%. Bristow Group’s dividend payout ratio (DPR) is presently -10.57%.
Institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan raised its position in Bristow Group by 1.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock valued at $109,000 after buying an additional 90 shares during the period. Whittier Trust Co. raised its position in Bristow Group by 1.2% in the second quarter. Whittier Trust Co. now owns 15,349 shares of the company’s stock valued at $175,000 after buying an additional 186 shares during the period. Arizona State Retirement System raised its position in Bristow Group by 1.1% in the second quarter. Arizona State Retirement System now owns 18,193 shares of the company’s stock valued at $208,000 after buying an additional 200 shares during the period. BlackRock Inc. raised its position in Bristow Group by 2.4% in the third quarter. BlackRock Inc. now owns 8,612 shares of the company’s stock valued at $120,000 after buying an additional 200 shares during the period. Finally, California State Teachers Retirement System raised its position in Bristow Group by 0.7% in the third quarter. California State Teachers Retirement System now owns 70,969 shares of the company’s stock valued at $995,000 after buying an additional 500 shares during the period.
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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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