Maryland State Retirement & Pension System Cuts Stock Position in Bristow Group Inc. (NYSE:VTOL)

Maryland State Retirement & Pension System lessened its position in Bristow Group Inc. (NYSE:VTOL) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,415 shares of the company’s stock after selling 406 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bristow Group were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Bristow Group in the 2nd quarter valued at $74,000. Bailard Inc. purchased a new stake in shares of Bristow Group in the 2nd quarter valued at $241,000. Bank of New York Mellon Corp raised its holdings in shares of Bristow Group by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,104 shares of the company’s stock valued at $6,207,000 after buying an additional 5,402 shares during the period. Perennial Advisors LLC purchased a new stake in shares of Bristow Group in the 2nd quarter valued at $235,000. Finally, Comerica Bank raised its holdings in shares of Bristow Group by 103.1% in the 1st quarter. Comerica Bank now owns 22,504 shares of the company’s stock valued at $612,000 after buying an additional 11,425 shares during the period. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Alternative Asset Manage Solus sold 75,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $39.50, for a total value of $2,962,500.00. Following the completion of the sale, the insider now directly owns 3,349,005 shares of the company’s stock, valued at approximately $132,285,697.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bristow Group news, major shareholder Alternative Asset Manage Solus sold 75,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $39.50, for a total transaction of $2,962,500.00. Following the completion of the sale, the insider now directly owns 3,349,005 shares of the company’s stock, valued at approximately $132,285,697.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian D. Truelove sold 3,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $37.09, for a total value of $111,270.00. Following the sale, the director now directly owns 33,504 shares of the company’s stock, valued at $1,242,663.36. The disclosure for this sale can be found here. Insiders have sold a total of 94,667 shares of company stock worth $3,622,448 in the last quarter. 14.90% of the stock is owned by company insiders.

Bristow Group Price Performance

Shares of NYSE VTOL opened at $38.93 on Thursday. The stock’s 50-day moving average is $36.33 and its two-hundred day moving average is $31.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.86 and a quick ratio of 1.53. Bristow Group Inc. has a 1-year low of $24.33 and a 1-year high of $41.50. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 973.25 and a beta of 1.32.

Bristow Group (NYSE:VTOL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.96 earnings per share for the quarter. Bristow Group had a return on equity of 3.79% and a net margin of 2.27%. The company had revenue of $359.75 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Benchmark upped their price target on Bristow Group from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

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.