Wedge Capital Management L L P NC Acquires 70,720 Shares of Era Group Inc (ERA)

Wedge Capital Management L L P NC raised its holdings in Era Group Inc (NYSE:ERA) by 111.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,176 shares of the transportation company’s stock after buying an additional 70,720 shares during the period. Wedge Capital Management L L P NC owned about 0.62% of Era Group worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. United Services Automobile Association lifted its position in shares of Era Group by 17.5% during the second quarter. United Services Automobile Association now owns 319,364 shares of the transportation company’s stock valued at $4,136,000 after purchasing an additional 47,500 shares in the last quarter. Northern Trust Corp lifted its position in shares of Era Group by 3.5% during the second quarter. Northern Trust Corp now owns 242,448 shares of the transportation company’s stock valued at $3,140,000 after purchasing an additional 8,299 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Era Group during the second quarter valued at about $139,000. Bank of America Corp DE lifted its position in shares of Era Group by 52.9% during the second quarter. Bank of America Corp DE now owns 23,361 shares of the transportation company’s stock valued at $302,000 after purchasing an additional 8,083 shares in the last quarter. Finally, Senvest Management LLC lifted its position in shares of Era Group by 0.6% during the second quarter. Senvest Management LLC now owns 1,910,638 shares of the transportation company’s stock valued at $24,743,000 after purchasing an additional 11,400 shares in the last quarter. 84.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Paul T. White sold 3,500 shares of Era Group stock in a transaction on Friday, September 21st. The stock was sold at an average price of $12.15, for a total transaction of $42,525.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.72% of the stock is currently owned by company insiders.

Separately, ValuEngine raised shares of Era Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th.

ERA opened at $12.00 on Thursday. Era Group Inc has a fifty-two week low of $8.98 and a fifty-two week high of $14.23. 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 (NYSE:ERA) last released its earnings results on Wednesday, November 7th. The transportation company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.10. Era Group had a negative return on equity of 1.41% and a net margin of 35.83%. The business had revenue of $54.61 million during the quarter.

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Era Group Profile

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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