Acadian Asset Management LLC Has $706,000 Stake in Era Group, Inc. (NYSE:ERA)
Acadian Asset Management LLC reduced its position in Era Group, Inc. (NYSE:ERA) by 45.8% during the second quarter, Holdings Channel reports. The institutional investor owned 74,628 shares of the transportation company’s stock after selling 63,067 shares during the period. Acadian Asset Management LLC’s holdings in Era Group were worth $706,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in ERA. Martingale Asset Management L P bought a new stake in shares of Era Group during the first quarter worth $1,155,000. Dimensional Fund Advisors LP boosted its stake in shares of Era Group by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,761,142 shares of the transportation company’s stock worth $23,353,000 after buying an additional 79,431 shares in the last quarter. State Street Corp boosted its stake in shares of Era Group by 15.8% in the fourth quarter. State Street Corp now owns 429,431 shares of the transportation company’s stock worth $7,288,000 after buying an additional 58,672 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Era Group during the first quarter worth $748,000. Finally, Vanguard Group Inc. boosted its stake in shares of Era Group by 4.4% in the first quarter. Vanguard Group Inc. now owns 1,074,308 shares of the transportation company’s stock worth $14,245,000 after buying an additional 44,834 shares in the last quarter. 88.29% of the stock is owned by institutional investors.
Shares of Era Group, Inc. (NYSE:ERA) traded down 5.05% during mid-day trading on Friday, hitting $8.46. The company’s stock had a trading volume of 118,224 shares. Era Group, Inc. has a 1-year low of $6.92 and a 1-year high of $17.73. The company has a 50-day moving average price of $9.18 and a 200-day moving average price of $11.44. The stock’s market cap is $180.02 million.
Era Group (NYSE:ERA) last posted its quarterly earnings data on Tuesday, August 8th. The transportation company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.03. Era Group had a negative net margin of 6.20% and a negative return on equity of 3.13%. The company had revenue of $57.90 million during the quarter, compared to the consensus estimate of $59 million. During the same period in the prior year, the business posted ($0.27) EPS. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts predict that Era Group, Inc. will post ($0.75) EPS for the current fiscal year.
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About Era Group
Era Group Inc is engaged in operating helicopters. The Company’s helicopters transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. The Company also dry-leases helicopters to third-party helicopter operators and foreign affiliates. The primary users of the Company’s helicopter services are international, integrated and independent oil and gas exploration, development and production companies.
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