SEACOR Marine (NYSE:SMHI) Shares Up 6.6% – Here’s Why

SEACOR Marine Holdings Inc. (NYSE:SMHI) rose 6.6% during mid-day trading on Wednesday . The stock traded as high as $6.40 and last traded at $6.2990. Approximately 252,609 shares changed hands during mid-day trading, an increase of 198% from the average daily volume of 84,769 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SMHI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SEACOR Marine in a research note on Wednesday, October 8th. Zacks Research lowered SEACOR Marine from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded SEACOR Marine from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SEACOR Marine has an average rating of “Reduce” and a consensus target price of $7.00.

SEACOR Marine Stock Performance

The firm’s 50 day simple moving average is $6.67 and its 200-day simple moving average is $6.34. The company has a market capitalization of $169.95 million, a price-to-earnings ratio of -4.47 and a beta of 1.26. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.36 and a current ratio of 2.39.

SEACOR Marine (NYSE:SMHI) last issued its earnings results on Wednesday, October 29th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.59) by $0.76. The business had revenue of $59.19 million during the quarter, compared to analysts’ expectations of $65.89 million. SEACOR Marine had a negative return on equity of 6.67% and a negative net margin of 16.08%. Analysts expect that SEACOR Marine Holdings Inc. will post -2.54 EPS for the current year.

Insider Buying and Selling at SEACOR Marine

In other news, Director Julie Persily sold 7,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $7.45, for a total value of $52,150.00. Following the completion of the sale, the director directly owned 85,476 shares of the company’s stock, valued at $636,796.20. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC lifted its position in SEACOR Marine by 4.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,137,894 shares of the company’s stock worth $5,803,000 after buying an additional 52,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SEACOR Marine by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 171,390 shares of the company’s stock worth $1,112,000 after acquiring an additional 29,955 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of SEACOR Marine by 160.3% in the third quarter. GSA Capital Partners LLP now owns 46,215 shares of the company’s stock worth $300,000 after acquiring an additional 28,458 shares during the last quarter. Epacria Capital Partners LLC raised its holdings in shares of SEACOR Marine by 19.5% during the second quarter. Epacria Capital Partners LLC now owns 155,230 shares of the company’s stock worth $792,000 after acquiring an additional 25,335 shares in the last quarter. Finally, Barington Companies Management LLC acquired a new stake in SEACOR Marine during the third quarter valued at $162,000. 59.05% of the stock is owned by hedge funds and other institutional investors.

About SEACOR Marine

SEACOR Marine (NYSE:SMHI) is a U.S.-based provider of offshore marine transportation and support services, offering a fleet of platform supply vessels (PSVs), crew transfer vessels, and specialty craft designed for the energy sector. The company serves clients engaged in offshore oil and gas exploration and production, as well as emerging offshore wind and renewable energy projects. Its services include cargo and personnel transfer, subsea support, emergency response, and project logistics.

Formed through the combination of SEACOR Holdings’ offshore marine division and acquired assets from Hornbeck Offshore Services, SEACOR Marine brings together a broad range of technical expertise and vessel capabilities.