An issue of Bristow Group Inc (NYSE:BRS) bonds fell 18.8% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 8.75% coupon and will mature on March 1, 2023. The debt is now trading at $83.25 and was trading at $101.25 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of equities research analysts have recently issued reports on BRS shares. Zacks Investment Research upgraded shares of Bristow Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday. ValuEngine upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Credit Suisse Group upped their price objective on shares of Bristow Group from $8.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $13.50.
Bristow Group stock traded up $0.23 during trading hours on Thursday, hitting $16.46. The company had a trading volume of 780,999 shares, compared to its average volume of 569,514. The firm has a market cap of $548.34, a PE ratio of -7.73 and a beta of 3.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.09 and a current ratio of 1.45. Bristow Group Inc has a fifty-two week low of $6.21 and a fifty-two week high of $17.35.
In related news, CEO Jonathan Baliff acquired 3,900 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were purchased at an average price of $12.97 per share, for a total transaction of $50,583.00. Following the purchase, the chief executive officer now owns 73,244 shares in the company, valued at $949,974.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider L. Don Miller acquired 2,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $12.58 per share, for a total transaction of $25,160.00. Following the purchase, the insider now owns 14,199 shares in the company, valued at approximately $178,623.42. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Bristow Group by 10.2% during the 4th quarter. Rhumbline Advisers now owns 76,991 shares of the oil and gas company’s stock worth $1,037,000 after purchasing an additional 7,137 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Bristow Group during the 4th quarter worth $146,000. Geode Capital Management LLC increased its stake in shares of Bristow Group by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 264,583 shares of the oil and gas company’s stock worth $3,562,000 after purchasing an additional 11,179 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Bristow Group by 20.7% during the 4th quarter. Deutsche Bank AG now owns 72,524 shares of the oil and gas company’s stock worth $975,000 after purchasing an additional 12,452 shares during the last quarter. Finally, Investors Research Corp acquired a new position in shares of Bristow Group during the 4th quarter worth $193,000.
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About Bristow Group
Bristow Group Inc provides industrial aviation services to the offshore energy companies in Europe Caspian, Africa, the Americas, and the Asia Pacific. The company offers helicopter transportation services to transport personnel between onshore bases and offshore production platforms, drilling rigs, and other installations, as well as to transport time-sensitive equipment to these offshore locations.
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