Dauntless Investment Group LLC Makes New Investment in Transocean Ltd. (NYSE:RIG)

Dauntless Investment Group LLC bought a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 125,750 shares of the offshore drilling services provider's stock, valued at approximately $472,000. Transocean comprises about 0.5% of Dauntless Investment Group LLC's holdings, making the stock its 24th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of RIG. American Century Companies Inc. raised its stake in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock worth $72,215,000 after purchasing an additional 6,542,271 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Transocean in the 4th quarter worth approximately $16,608,000. Van ECK Associates Corp lifted its stake in Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock valued at $57,727,000 after purchasing an additional 3,895,880 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Transocean during the fourth quarter valued at $11,156,000. Finally, Vanguard Group Inc. increased its position in Transocean by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock worth $295,544,000 after buying an additional 931,684 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RIG. TD Cowen decreased their price objective on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. Susquehanna lowered their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Morgan Stanley dropped their price target on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, SEB Equity Research set a $2.80 price target on Transocean in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Transocean presently has a consensus rating of "Hold" and a consensus target price of $4.59.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the transaction, the executive vice president now directly owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 13.16% of the stock is currently owned by insiders.

Transocean Price Performance

Shares of RIG stock traded down $0.05 on Monday, reaching $2.28. The company's stock had a trading volume of 30,172,200 shares, compared to its average volume of 24,516,477. The company has a market capitalization of $2.01 billion, a P/E ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock's 50 day simple moving average is $2.79 and its 200-day simple moving average is $3.59. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38.

Transocean (NYSE:RIG - Get Free Report) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. As a group, equities analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.