Era Group Inc (ERA) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Era Group Inc (NYSE:ERA) by 27.4% in the second quarter, Holdings Channel reports. The fund owned 235,253 shares of the transportation company’s stock after selling 88,754 shares during the period. Bank of New York Mellon Corp’s holdings in Era Group were worth $3,046,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. A.R.T. Advisors LLC bought a new stake in shares of Era Group in the 1st quarter valued at about $107,000. Marquette Asset Management LLC bought a new stake in shares of Era Group in the 2nd quarter valued at about $265,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Era Group in the 2nd quarter valued at about $324,000. JPMorgan Chase & Co. increased its stake in shares of Era Group by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 45,420 shares of the transportation company’s stock valued at $425,000 after acquiring an additional 4,638 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Era Group by 219.4% in the 1st quarter. Millennium Management LLC now owns 115,836 shares of the transportation company’s stock valued at $1,083,000 after acquiring an additional 79,565 shares during the last quarter. 83.78% of the stock is owned by institutional investors.

In other news, SVP Paul T. White sold 3,500 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $12.15, for a total value of $42,525.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.72% of the company’s stock.

Shares of ERA stock opened at $12.21 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.44 and a quick ratio of 1.82. Era Group Inc has a one year low of $8.98 and a one year high of $14.23.

Era Group (NYSE:ERA) last announced its quarterly earnings results on Wednesday, August 8th. The transportation company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The company had revenue of $57.73 million during the quarter. Era Group had a negative net margin of 13.39% and a negative return on equity of 2.57%.

Separately, ValuEngine cut Era Group from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd.

About Era Group

Era Group Inc provides helicopter transportation services primarily to the oil and gas exploration, development, and production companies. Its helicopter services include emergency response search and rescue; Alaska flightseeing tours; and other services, as well as utility services to support firefighting, mining, power line, and pipeline survey activities.

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Institutional Ownership by Quarter for Era Group (NYSE:ERA)

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