Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Bristow Group Inc. (NYSE:VTOL)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bristow Group Inc. (NYSE:VTOL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,587 shares of the company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Driehaus Capital Management LLC bought a new position in shares of Bristow Group during the 2nd quarter valued at approximately $4,615,000. Empyrean Capital Partners LP lifted its holdings in Bristow Group by 9.0% during the second quarter. Empyrean Capital Partners LP now owns 1,120,000 shares of the company’s stock valued at $37,554,000 after purchasing an additional 92,086 shares in the last quarter. Clayton Partners LLC lifted its holdings in Bristow Group by 25.6% during the second quarter. Clayton Partners LLC now owns 434,923 shares of the company’s stock valued at $14,583,000 after purchasing an additional 88,742 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bristow Group by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,492,128 shares of the company’s stock worth $50,031,000 after purchasing an additional 87,969 shares during the period. Finally, American Century Companies Inc. increased its stake 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 worth $10,768,000 after purchasing an additional 45,738 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Bristow Group Price Performance

Shares of Bristow Group stock opened at $38.22 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. Bristow Group Inc. has a 52 week low of $24.33 and a 52 week high of $41.50. The stock’s 50-day simple moving average is $35.66 and its 200-day simple moving average is $35.59. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 20.55 and a beta of 1.31.

Bristow Group (NYSE:VTOL) last posted its quarterly 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. Bristow Group had a return on equity of 6.50% and a net margin of 3.93%. The company had revenue of $365.12 million for the quarter. During the same period in the prior year, the firm posted $0.41 earnings per share.

Insider Transactions at Bristow Group

In related news, major shareholder Alternative Asset Manage Solus sold 42,150 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.10, for a total value of $1,605,915.00. Following the sale, the insider now directly owns 3,306,855 shares in the company, valued at approximately $125,991,175.50. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 94,858 shares of company stock valued at $3,527,946. 14.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their target price on shares of Bristow Group from $45.00 to $50.00 and gave the company a “buy” rating in a research note 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.