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In recent transactions, Solus Alternative Asset Management LP, a significant shareholder in Bristow Group Inc. (NYSE:VTOL), sold shares amounting to a total of $659,212. The sales occurred over two days, with stock prices ranging from $32.7103 to $32.7144 per share. The timing is notable as the stock has experienced an 11.99% decline over the past week, according to InvestingPro data, which also indicates the company is currently trading near its Fair Value.
On March 5, the firm sold 8,323 shares, followed by an additional sale of 11,829 shares on March 7. After these transactions, Solus Alternative Asset Management’s holdings in Bristow Group stood at 3,176,796 shares. The company, with a market capitalization of $936.27 million and a P/E ratio of 9.86, maintains a "GOOD" financial health score according to InvestingPro’s comprehensive analysis.
These transactions were conducted by Solus Alternative Asset Management and its affiliates, including Solus GP LLC and Christopher Pucillo, who is the managing member. The shares involved are held directly or indirectly by funds and accounts managed by Solus and its affiliates. While the company operates with significant debt, InvestingPro analysis shows its liquid assets exceed short-term obligations, with six additional key insights available to subscribers.
In other recent news, Bristow Group Inc. reported its fourth-quarter 2024 financial results, surpassing analysts’ expectations with an earnings per share (EPS) of $1.07, significantly exceeding the forecasted $0.61. The company also reported revenues of $353.53 million, slightly above the predicted $349.85 million. Bristow’s strong performance was driven by growth in offshore energy services and long-term government contracts. The company also announced ambitious revenue and EBITDA targets for 2025. Analysts from firms like Evercore and Raymond (NSE:RYMD) James noted the positive outlook for Bristow, with expectations for continued strong performance in key markets like West Africa and Brazil. The company plans to capitalize on growth opportunities in advanced air mobility and government services, projecting a 25% increase in the latter by 2026. Additionally, Bristow has introduced a new capital allocation framework, including a quarterly dividend program set to commence in 2026. The company continues to focus on maintaining a strong balance sheet while pursuing high-impact growth opportunities.
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