Bristow Group Inc. (NYSE:VTOL) Sees Significant Drop in Short Interest

Bristow Group Inc. (NYSE:VTOL - Get Free Report) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 365,500 shares, a decline of 25.4% from the February 13th total of 490,200 shares. Based on an average daily volume of 126,900 shares, the short-interest ratio is currently 2.9 days. Currently, 1.3% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Maryanne Miller sold 2,200 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $32.15, for a total transaction of $70,730.00. Following the completion of the sale, the director now owns 19,173 shares of the company's stock, valued at $616,411.95. This represents a 10.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lorin L. Brass sold 2,700 shares of Bristow Group stock in a transaction on Friday, February 28th. The stock was sold at an average price of $37.00, for a total transaction of $99,900.00. Following the transaction, the director now owns 28,104 shares in the company, valued at $1,039,848. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,152 shares of company stock valued at $833,002. Company insiders own 14.90% of the company's stock.

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Institutional Investors Weigh In On Bristow Group

A number of hedge funds have recently made changes to their positions in VTOL. Empowered Funds LLC increased its stake in Bristow Group by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 37,362 shares of the company's stock worth $1,296,000 after acquiring an additional 1,876 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Bristow Group by 32.7% in the third quarter. Quest Partners LLC now owns 6,138 shares of the company's stock valued at $213,000 after purchasing an additional 1,511 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bristow Group in the third quarter worth $298,000. Intech Investment Management LLC purchased a new stake in Bristow Group during the third quarter valued at $212,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Bristow Group by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 237,043 shares of the company's stock valued at $8,223,000 after purchasing an additional 674 shares during the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Bristow Group Price Performance

NYSE VTOL traded up $0.08 during trading hours on Thursday, reaching $32.05. The company's stock had a trading volume of 82,981 shares, compared to its average volume of 120,335. Bristow Group has a 1 year low of $24.33 and a 1 year high of $41.50. The company has a quick ratio of 1.49, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $917.71 million, a price-to-earnings ratio of 17.23 and a beta of 1.39. The firm's 50-day moving average price is $34.61 and its 200-day moving average price is $35.14.

Bristow Group (NYSE:VTOL - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.46. The company had revenue of $353.53 million during the quarter, compared to analysts' expectations of $367.00 million. Bristow Group had a net margin of 3.93% and a return on equity of 6.50%.

About Bristow Group

Bristow Group Inc provides vertical flight solutions. The company primarily offers aviation services to integrated, national, and independent offshore energy companies and government agencies. It also provides personnel transportation, search and rescue, medevac, ad hoc helicopter, fixed wing transportation, unmanned systems, and ad-hoc helicopter services, as well as logistical and maintenance support, training services, and flight and maintenance crews.