A southern California investment firm has cut back its position in Seacor Marine Holdings.
Private Management Group sold more than 200,000 shares in the New York-listed offshore player, lowering its stake from 6.09% to 4.25%, Securities and Exchange Commission filings from Wednesday show.
According to its quarterly report filed last November, the Irvine-based firm has stakes in Ardmore Shipping Company and Dorian LPG, alongside 77,000 shares of Seacor Holdings.
The latter is a diversified holding company that spun off its offshore assets into Seacor Marine Holdings in 2017.
Seacor Marine Holdings largest shareholder is T Rowe Price, with 3.6 million shares. The Carlyle Group owns 2.6 million shares and the Wellington Management Group owns 1.9 million.
Two weeks ago, Seacor Marine Holdings announced it had inked a deal acquiring three fast support vessels in exchange for shares.
For the third quarter, the company posted a loss of $16m, or $0.71 per share. The losses still beat analysts consensus by $0.29 per share.
For the fourth quarter, analysts are forecasting an $0.86 loss per share.
