Emerald Mutual Fund Advisers Trust Cuts Stock Position in Tidewater Inc. (NYSE:TDW)

Emerald Mutual Fund Advisers Trust cut its holdings in Tidewater Inc. (NYSE:TDW) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,893 shares of the oil and gas company’s stock after selling 22,445 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Tidewater were worth $9,076,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in Tidewater during the fourth quarter valued at approximately $33,000. AlphaQuest LLC increased its position in Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 511 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Tidewater in the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC grew its holdings in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Tidewater by 2,018.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 1,211 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TDW. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.33% of the company’s stock.

Tidewater Stock Up 0.7 %

Shares of TDW stock opened at $36.59 on Tuesday. The stock’s fifty day moving average price is $40.05 and its 200 day moving average price is $49.62. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $111.42. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 10.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Tidewater Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.