Solus Alternative Asset Management LP Sells 75,000 Shares of Bristow Group Inc. (NYSE:VTOL)

Solus Alternative Asset Management LP decreased its holdings in shares of Bristow Group Inc. (NYSE:VTOL) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,349,005 shares of the company’s stock after selling 75,000 shares during the period. Bristow Group comprises about 33.0% of Solus Alternative Asset Management LP’s portfolio, making the stock its largest holding. Solus Alternative Asset Management LP owned approximately 11.70% of Bristow Group worth $116,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bristow Group by 35.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,679 shares of the company’s stock worth $891,000 after acquiring an additional 6,723 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bristow Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 237,043 shares of the company’s stock valued at $8,223,000 after purchasing an additional 674 shares during the period. Intech Investment Management LLC bought a new stake in shares of Bristow Group during the third quarter valued at approximately $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bristow Group during the 3rd quarter valued at $298,000. Finally, Quest Partners LLC increased its holdings in shares of Bristow Group by 32.7% during the third quarter. Quest Partners LLC now owns 6,138 shares of the company’s stock valued at $213,000 after purchasing an additional 1,511 shares during the period. Institutional investors and hedge funds own 93.29% of the company’s stock.

Insider Activity

In other news, major shareholder Alternative Asset Manage Solus sold 42,150 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.10, for a total transaction of $1,605,915.00. Following the sale, the insider now owns 3,306,855 shares in the company, valued at $125,991,175.50. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 94,858 shares of company stock valued at $3,527,946 over the last three months. Insiders own 14.90% of the company’s stock.

Bristow Group Price Performance

NYSE:VTOL opened at $37.94 on Friday. Bristow Group Inc. has a 52-week low of $24.33 and a 52-week high of $41.50. The company has a quick ratio of 1.49, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.09 billion, a P/E ratio of 20.40 and a beta of 1.31. The business’s 50-day moving average price is $35.61 and its 200 day moving average price is $35.57.

Bristow Group (NYSE:VTOL) last released its earnings results on Tuesday, November 5th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.34. The business had revenue of $365.12 million for the quarter. Bristow Group had a net margin of 3.93% and a return on equity of 6.50%. During the same quarter in the previous year, the firm earned $0.41 earnings per share.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price objective on shares of 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.