Solus Alternative Asset Management LP Decreases Position in Bristow Group Inc. (NYSE:VTOL)

Solus Alternative Asset Management LP decreased its stake in shares of Bristow Group Inc. (NYSE:VTOL - Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,349,005 shares of the company's stock after selling 75,000 shares during the period. Bristow Group makes up about 33.0% of Solus Alternative Asset Management LP's investment portfolio, making the stock its largest holding. Solus Alternative Asset Management LP owned about 11.70% of Bristow Group worth $116,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Bristow Group in the second quarter worth $64,000. Innealta Capital LLC bought a new stake in Bristow Group during the 2nd quarter worth about $74,000. Abner Herrman & Brock LLC acquired a new position in shares of Bristow Group during the 3rd quarter worth about $201,000. Intech Investment Management LLC bought a new position in shares of Bristow Group in the 3rd quarter valued at about $212,000. Finally, Quest Partners LLC increased its position 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 acquiring an additional 1,511 shares during the last quarter. Institutional investors own 93.29% of the company's stock.

Bristow Group Stock Performance

Shares of Bristow Group stock traded up $0.28 during trading on Friday, hitting $38.22. 48,688 shares of the stock were exchanged, compared to its average volume of 120,704. Bristow Group Inc. has a 1-year low of $24.33 and a 1-year high of $41.50. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 20.40 and a beta of 1.31. The company has a fifty day moving average price of $35.61 and a 200-day moving average price of $35.57. The company has a current ratio of 1.83, a quick ratio of 1.49 and a debt-to-equity ratio of 0.68.

Bristow Group (NYSE:VTOL - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.34. Bristow Group had a net margin of 3.93% and a return on equity of 6.50%. The firm had revenue of $365.12 million during the quarter. During the same period last year, the firm earned $0.41 earnings per share.

Analysts Set New Price Targets

Separately, Benchmark upped their price objective on Bristow Group from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th.

Insider Transactions at Bristow Group

In related news, major shareholder Alternative Asset Manage Solus sold 45,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $36.20, for a total transaction of $1,629,000.00. Following the sale, the insider now owns 3,231,203 shares of the company's stock, valued at $116,969,548.60. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 94,858 shares of company stock worth $3,527,946. Company insiders own 14.90% of the company's stock.

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.