Invenomic Capital Management LP Buys 18,003 Shares of Bristow Group Inc. $VTOL

Invenomic Capital Management LP boosted its stake in Bristow Group Inc. (NYSE:VTOL) by 15.7% in the third quarter, HoldingsChannel reports. The firm owned 132,596 shares of the company’s stock after buying an additional 18,003 shares during the period. Invenomic Capital Management LP’s holdings in Bristow Group were worth $4,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Bristow Group by 2.0% during the third quarter. Bank of America Corp DE now owns 53,402 shares of the company’s stock valued at $1,927,000 after purchasing an additional 1,029 shares during the period. Algert Global LLC boosted its holdings in Bristow Group by 204.9% in the third quarter. Algert Global LLC now owns 158,498 shares of the company’s stock worth $5,719,000 after acquiring an additional 106,514 shares in the last quarter. Creative Planning grew its stake in Bristow Group by 60.1% in the third quarter. Creative Planning now owns 11,459 shares of the company’s stock valued at $413,000 after acquiring an additional 4,300 shares during the period. Lazard Asset Management LLC raised its position in shares of Bristow Group by 4.3% during the third quarter. Lazard Asset Management LLC now owns 17,426 shares of the company’s stock worth $629,000 after purchasing an additional 719 shares during the period. Finally, Amundi bought a new position in shares of Bristow Group in the 3rd quarter worth $226,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

VTOL has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on shares of Bristow Group in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $60.00 price objective on the stock. JonesTrading started coverage on Bristow Group in a research note on Friday, January 23rd. They issued a “buy” rating for the company. Zacks Research upgraded Bristow Group to a “hold” rating in a report on Thursday, February 19th. Wall Street Zen raised shares of Bristow Group from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bristow Group in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Insider Transactions at Bristow Group

In other Bristow Group news, Director Wesley E. Kern sold 3,079 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $46.83, for a total value of $144,189.57. Following the completion of the transaction, the director owned 32,000 shares in the company, valued at $1,498,560. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jennifer Dawn Whalen sold 26,667 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $46.90, for a total value of $1,250,682.30. Following the sale, the chief financial officer owned 108,241 shares in the company, valued at approximately $5,076,502.90. This represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 60,104 shares of company stock valued at $2,824,206. 13.40% of the stock is currently owned by company insiders.

Bristow Group Price Performance

Shares of NYSE VTOL opened at $42.60 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.54 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $43.73 and a two-hundred day simple moving average of $39.76. Bristow Group Inc. has a 1-year low of $25.11 and a 1-year high of $49.55. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 9.86 and a beta of 1.35.

Bristow Group (NYSE:VTOL) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.15. The company had revenue of $377.26 million during the quarter, compared to analyst estimates of $380.33 million. Bristow Group had a return on equity of 12.87% and a net margin of 8.66%.

Bristow Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a yield of 1.2%. Bristow Group’s payout ratio is presently 11.57%.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.