GSA Capital Partners LLP Trims Stock Position in Transocean Ltd. (NYSE:RIG)

GSA Capital Partners LLP lowered its position in shares of Transocean Ltd. (NYSE:RIG) by 35.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 477,831 shares of the offshore drilling services provider’s stock after selling 265,653 shares during the period. GSA Capital Partners LLP’s holdings in Transocean were worth $2,031,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Transocean in the 2nd quarter worth approximately $30,000. Fiducient Advisors LLC purchased a new position in Transocean in the 1st quarter worth approximately $63,000. SG Americas Securities LLC purchased a new position in Transocean in the 2nd quarter worth approximately $64,000. Finally, Atria Investments Inc purchased a new position in Transocean in the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

NYSE:RIG opened at $4.29 on Wednesday. The company has a fifty day moving average of $4.30 and a 200 day moving average of $5.01. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Benchmark lowered shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Barclays lowered their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.63.

Insider Activity at Transocean

In other news, Director Perestroika purchased 1,500,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.54% of the stock is currently owned by company insiders.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.