Invenomic Capital Management LP Has $4.78 Million Position in Bristow Group Inc. $VTOL

Invenomic Capital Management LP lifted its position in shares of Bristow Group Inc. (NYSE:VTOL) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,596 shares of the company’s stock after acquiring an additional 18,003 shares during the period. Invenomic Capital Management LP owned approximately 0.46% of Bristow Group worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Lorin L. Brass sold 3,250 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $49.04, for a total transaction of $159,380.00. Following the completion of the sale, the director directly owned 18,455 shares in the company, valued at $905,033.20. This represents a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wesley E. Kern sold 3,079 shares of Bristow Group stock in a transaction on Friday, February 27th. The stock was sold at an average price of $46.83, for a total transaction of $144,189.57. Following the transaction, the director directly owned 32,000 shares of the company’s stock, valued at $1,498,560. This represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 60,104 shares of company stock worth $2,824,206. Corporate insiders own 13.40% of the company’s stock.

Bristow Group Trading Down 0.9%

Shares of NYSE VTOL opened at $42.60 on Monday. The stock has a market cap of $1.24 billion, a P/E ratio of 9.86 and a beta of 1.35. The firm has a 50 day moving average price of $43.73 and a two-hundred day moving average price of $39.76. 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 Inc. has a 52-week low of $25.11 and a 52-week high of $49.55.

Bristow Group (NYSE:VTOL) last announced 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 business had revenue of $377.26 million during the quarter, compared to analyst estimates of $380.33 million.

Bristow Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 13th will be given a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. Bristow Group’s payout ratio is 11.57%.

Bristow Group Company Profile

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.