SEACOR Holdings, Inc. (NYSE:CKH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, May 12th.
According to Zacks, “SEACOR and its subsidiaries are engaged in the operation of a diversified fleet of offshore support vessels that service oil and gas exploration and development activities in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other international regions. Other business activities primarily include environmental services, inland river operations, and offshore aviation services. “
Separately, Stifel Nicolaus raised their price objective on shares of SEACOR Holdings from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th.
SEACOR Holdings (NYSE:CKH) traded up 0.09% during trading on Friday, hitting $34.22. The stock had a trading volume of 328,069 shares. SEACOR Holdings has a 52-week low of $33.76 and a 52-week high of $76.32. The company’s market cap is $600.53 million. The firm’s 50-day moving average price is $55.41 and its 200-day moving average price is $65.76.
SEACOR Holdings (NYSE:CKH) last issued its earnings results on Tuesday, May 9th. The oil and gas company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.88. SEACOR Holdings had a negative net margin of 22.86% and a negative return on equity of 14.72%. The company had revenue of $190.45 million during the quarter, compared to analysts’ expectations of $206.36 million. Analysts predict that SEACOR Holdings will post ($0.03) EPS for the current fiscal year.
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In other news, Vice Chairman Oivind Lorentzen sold 53,208 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $36.37, for a total transaction of $1,935,174.96. Following the completion of the transaction, the insider now directly owns 72,934 shares of the company’s stock, valued at approximately $2,652,609.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 57,393 shares of company stock valued at $2,205,423. Corporate insiders own 13.37% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CKH. Tower Research Capital LLC TRC raised its stake in shares of SEACOR Holdings by 266.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,665 shares of the oil and gas company’s stock worth $115,000 after buying an additional 1,211 shares during the period. HighTower Advisors LLC raised its position in shares of SEACOR Holdings by 2.2% in the first quarter. HighTower Advisors LLC now owns 28,410 shares of the oil and gas company’s stock worth $1,964,000 after buying an additional 609 shares during the period. State Street Corp raised its position in shares of SEACOR Holdings by 2.4% in the first quarter. State Street Corp now owns 467,542 shares of the oil and gas company’s stock worth $32,354,000 after buying an additional 10,778 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of SEACOR Holdings by 10.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 167,330 shares of the oil and gas company’s stock worth $11,578,000 after buying an additional 15,303 shares during the period. Finally, KCG Holdings Inc. raised its position in shares of SEACOR Holdings by 10.3% in the first quarter. KCG Holdings Inc. now owns 7,232 shares of the oil and gas company’s stock worth $500,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 94.67% of the company’s stock.
About SEACOR Holdings
SEACOR Holdings Inc is engaged in owning, operating, investing in and marketing equipment, primarily in the offshore oil and gas, shipping and logistics industries. The Company’s segments include Offshore Marine Services, Inland River Services, Shipping Services and Illinois Corn Processing. The Offshore Marine Services segment operates a fleet of support vessels primarily servicing offshore oil and gas exploration, development and production facilities around the world.
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