Kestrel Investment Management Corp Takes Position in Bristow Group Inc. $VTOL

Kestrel Investment Management Corp purchased a new position in Bristow Group Inc. (NYSE:VTOL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 135,100 shares of the company’s stock, valued at approximately $4,876,000. Bristow Group comprises approximately 2.7% of Kestrel Investment Management Corp’s portfolio, making the stock its 15th largest position. Kestrel Investment Management Corp owned 0.47% of Bristow Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Bristow Group by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,984,961 shares of the company’s stock valued at $71,617,000 after purchasing an additional 91,116 shares in the last quarter. Taconic Capital Advisors LP raised its position in shares of Bristow Group by 6.4% in the second quarter. Taconic Capital Advisors LP now owns 1,331,073 shares of the company’s stock valued at $43,885,000 after buying an additional 80,000 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Bristow Group by 21.3% in the second quarter. Brown Advisory Inc. now owns 1,224,954 shares of the company’s stock worth $40,387,000 after buying an additional 215,214 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Bristow Group by 11.2% in the third quarter. American Century Companies Inc. now owns 833,992 shares of the company’s stock worth $30,090,000 after buying an additional 84,318 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Bristow Group by 9.0% during the second quarter. Geode Capital Management LLC now owns 624,318 shares of the company’s stock worth $20,588,000 after acquiring an additional 51,594 shares during the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Trading Down 0.7%

VTOL opened at $47.64 on Monday. Bristow Group Inc. has a one year low of $25.11 and a one year high of $49.55. The stock has a market capitalization of $1.39 billion, a PE ratio of 11.03 and a beta of 1.35. The business’s 50 day moving average price is $42.08 and its 200 day moving average price is $39.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.54 and a current ratio of 1.90.

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

Bristow Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Friday, March 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th.

Insider Buying and Selling

In other Bristow Group news, COO Stuart Stavley sold 24,908 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $47.02, for a total transaction of $1,171,174.16. Following the completion of the transaction, the chief operating officer owned 85,790 shares of the company’s stock, valued at $4,033,845.80. This trade represents a 22.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.40% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.