Hornbeck Offshore Services (NYSE:HOS) Stock Jumps 6% After Insider Buying Activity

Hornbeck Offshore Services, Inc. (NYSE:HOS) shares were up 6% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $5.88 and last traded at $5.9050. 448,686 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,060,686 shares. The stock had previously closed at $5.57.

Specifically, CEO Todd M. Hornbeck bought 91,296 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The stock was purchased at an average cost of $5.48 per share, with a total value of $500,302.08. Following the transaction, the chief executive officer directly owned 5,950,514 shares in the company, valued at $32,608,816.72. This trade represents a 1.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd M. Hornbeck purchased 189,570 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were purchased at an average price of $5.28 per share, for a total transaction of $1,000,929.60. Following the purchase, the chief executive officer directly owned 5,859,218 shares in the company, valued at $30,936,671.04. The trade was a 3.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Hornbeck Offshore Services from a “buy” rating to a “hold” rating in a report on Monday.

Hornbeck Offshore Services Price Performance

The firm has a market cap of $870.13 million, a price-to-earnings ratio of -21.08 and a beta of 1.31. The company has a 50 day moving average price of $7.47. The company has a current ratio of 2.00, a quick ratio of 3.47 and a debt-to-equity ratio of 0.35.

Hornbeck Offshore Services (NYSE:HOS) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.59). Hornbeck Offshore Services had a positive return on equity of 3.12% and a negative net margin of 5.58%. During the same period in the previous year, the business posted $0.28 EPS. On average, analysts anticipate that Hornbeck Offshore Services, Inc. will post 0.28 earnings per share for the current year.

Institutional Trading of Hornbeck Offshore Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC purchased a new stake in shares of Hornbeck Offshore Services during the third quarter worth approximately $27,000. Boston Partners purchased a new position in Hornbeck Offshore Services in the 3rd quarter valued at $20,400,000. Valueworks LLC purchased a new position in Hornbeck Offshore Services in the 3rd quarter valued at $28,572,000. Voya Investment Management LLC purchased a new position in Hornbeck Offshore Services in the 3rd quarter valued at $1,672,000. Finally, Public Sector Pension Investment Board acquired a new position in Hornbeck Offshore Services in the 3rd quarter valued at $3,415,000. 91.33% of the stock is owned by institutional investors and hedge funds.

About Hornbeck Offshore Services

Hornbeck Offshore Services provides marine transportation and support services for the offshore oil and gas industry. Its fleet includes offshore supply vessels and multi-purpose support vessels that carry equipment and supplies, assist with construction and subsea work, and support exploration, development and production activities. Founded in 1997, the company has focused on serving deepwater and other demanding offshore operations. Its vessels and services support customers in the U.S. Gulf of Mexico and select international markets.