Prudential Financial has dumped almost a million Tidewater shares.
According to a Securities and Exchange Commission filing made Thursday, the New Jersey investment manager trimmed its ownership stake in the offshore player from 6% to 1.8%.
Prudential now owns 634,785 shares, from 1.6 million.
Tidwater shares were down 5.1%, or $1.13, to $20.85 in midday trading Thursday.
The company completed a $1.25bn merger with GulfMark last year, creating a 270-vessel company.
Last month, Clarksons Platou tapped Tidewater as one of its top picks as it projects a strong year for the offshore sector.
