Zacks Investment Research cut shares of SEACOR Holdings, Inc. (NYSE:CKH) from a buy rating to a hold rating in a report released on Monday morning.
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 set a $40.00 price target on shares of SEACOR Holdings and gave the company a buy rating in a report on Monday, August 7th.
A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in SEACOR Holdings in the second quarter valued at approximately $644,000. Walthausen & Co. LLC acquired a new stake in SEACOR Holdings in the second quarter valued at approximately $3,335,000. The Manufacturers Life Insurance Company grew its position in SEACOR Holdings by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 13,083 shares of the oil and gas company’s stock valued at $449,000 after acquiring an additional 788 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in SEACOR Holdings in the second quarter valued at approximately $263,000. Finally, State Street Corp grew its position in SEACOR Holdings by 8.3% in the second quarter. State Street Corp now owns 506,570 shares of the oil and gas company’s stock valued at $17,371,000 after acquiring an additional 39,028 shares in the last quarter. 89.88% of the stock is owned by institutional investors.
SEACOR Holdings Company Profile
SEACOR Holdings Inc, is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company’s segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products.
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