Empyrean Capital Partners LP Acquires 92,086 Shares of Bristow Group Inc. (NYSE:VTOL)

Empyrean Capital Partners LP lifted its stake in Bristow Group Inc. (NYSE:VTOL) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,120,000 shares of the company’s stock after acquiring an additional 92,086 shares during the period. Bristow Group makes up about 2.2% of Empyrean Capital Partners LP’s holdings, making the stock its 15th largest holding. Empyrean Capital Partners LP’s holdings in Bristow Group were worth $37,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Bristow Group by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,264,574 shares of the company’s stock worth $35,750,000 after purchasing an additional 142,065 shares in the last quarter. Clayton Partners LLC lifted its holdings in shares of Bristow Group by 25.6% in the second quarter. Clayton Partners LLC now owns 434,923 shares of the company’s stock worth $14,583,000 after buying an additional 88,742 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Bristow Group by 16.6% in the second quarter. American Century Companies Inc. now owns 321,157 shares of the company’s stock valued at $10,768,000 after acquiring an additional 45,738 shares during the period. First Eagle Investment Management LLC grew its stake in Bristow Group by 73.5% during the first quarter. First Eagle Investment Management LLC now owns 84,144 shares of the company’s stock valued at $2,289,000 after acquiring an additional 35,644 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Bristow Group during the 2nd quarter worth approximately $907,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Alternative Asset Manage Solus sold 75,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $39.50, for a total transaction of $2,962,500.00. Following the sale, the insider now owns 3,349,005 shares in the company, valued at approximately $132,285,697.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other 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 transaction, the insider now directly owns 3,349,005 shares in the company, valued at approximately $132,285,697.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian D. Truelove sold 3,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $37.09, for a total value of $111,270.00. Following the transaction, the director now owns 33,504 shares in the company, valued at $1,242,663.36. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

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

Bristow Group Price Performance

Bristow Group stock opened at $35.94 on Thursday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 898.50 and a beta of 1.31. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $36.72 and a 200 day simple moving average of $32.80. Bristow Group Inc. has a 52 week low of $24.33 and a 52 week high of $41.50.

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

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.