Flat Footed LLC Invests $5.23 Billion in SEACOR Marine Holdings Inc. $SMHI

Flat Footed LLC purchased a new stake in SEACOR Marine Holdings Inc. (NYSE:SMHI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 683,777 shares of the company’s stock, valued at approximately $5,230,895,000. SEACOR Marine makes up 0.4% of Flat Footed LLC’s investment portfolio, making the stock its 13th biggest holding. Flat Footed LLC owned about 2.52% of SEACOR Marine at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in SEACOR Marine in the 2nd quarter worth about $12,188,000. Robotti Robert purchased a new stake in shares of SEACOR Marine in the second quarter worth about $5,456,000. Oppenheimer & Close LLC boosted its position in shares of SEACOR Marine by 0.5% in the fourth quarter. Oppenheimer & Close LLC now owns 553,833 shares of the company’s stock valued at $3,334,000 after acquiring an additional 2,911 shares during the period. Geode Capital Management LLC boosted its position in shares of SEACOR Marine by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 485,730 shares of the company’s stock valued at $2,925,000 after acquiring an additional 5,117 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in SEACOR Marine by 6.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 220,500 shares of the company’s stock valued at $1,327,000 after acquiring an additional 13,000 shares in the last quarter. Hedge funds and other institutional investors own 59.05% of the company’s stock.

SEACOR Marine Stock Performance

NYSE:SMHI opened at $9.76 on Wednesday. The stock has a market cap of $264.65 million, a P/E ratio of -13.74 and a beta of 1.10. The company has a quick ratio of 2.35, a current ratio of 2.38 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $7.77. SEACOR Marine Holdings Inc. has a twelve month low of $5.55 and a twelve month high of $10.00.

SEACOR Marine (NYSE:SMHI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($1.24) by $1.36. The company had revenue of $54.63 million during the quarter, compared to analyst estimates of $45.60 million. SEACOR Marine had a negative return on equity of 8.72% and a negative net margin of 8.62%. As a group, equities analysts predict that SEACOR Marine Holdings Inc. will post -2.02 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEACOR Marine in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

Insiders Place Their Bets

In related news, VP Andrew H. Everett II sold 63,124 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $9.14, for a total value of $576,953.36. Following the completion of the transaction, the vice president directly owned 206,363 shares in the company, valued at approximately $1,886,157.82. The trade was a 23.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jesus Llorca sold 60,823 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $9.12, for a total value of $554,705.76. Following the completion of the transaction, the chief financial officer directly owned 411,818 shares in the company, valued at approximately $3,755,780.16. This represents a 12.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 269,955 shares of company stock valued at $2,374,751 in the last quarter. Corporate insiders own 16.80% of the company’s stock.

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.