Erickson Air Crane Stock Loved By Meridee Moore & Watershed Asset Management

Erickson Air Crane stock: Erickson Air-Crane Incorporated (NASDAQ:EAC) has recently been added to the equity portfolio of Watershed Asset Management, a hedge fund managed by Meridee A. Moore. The hedge fund disclosed ownership of some 755,400 shares, with the value of the position amounting to $11.4 million. The position owned by Watershed represents 5.5% of Erickson Air-Crane Incorporated.

Erickson Air-Crane Inc (NASDAQ:EAC)

Erickson Air-Crane is a company engaged in aviation services, as well as the production of aircraft parts. Recently, the company has been awarded a contract from Sikorsky Aircraft Corp for building of aircraft parts, with the value of the contract amounting to $5.6 million. Also, at the beginning of the month, the company completed the purchase of Air Amazonia, which give Erickson an aerial services agreement with a duration of five years, which will bring the company a revenue of at least $29 million annually, the company said in a statement.

At the same time, we should mention some other hedge funds in addition to Watershed, that have been bullish on Erickson. As follows, the hedge fund with the largest stake is Ariel Investments, managed by John W. Rogers, which owns 882,600 shares. Watershed climbed on the second position after the recent acquisition, being followed by Jim Simons’ Renaissance Technologies with 90,900 shares, and Robert B. Gillam’s Mckinley Capital Management, which owns 65,500. Check back here for more updates on Erickson Air Crane stock.

Recommended Reading:

Hedge Fund News: Glenn Dubin, Seth Klarman & Tim Cook’s Dinner Plans

Ken Fisher’s Stock Picks In The Dividend Space

Is There Any Value in Bill Ackman’s Holdings?

Disclosure: none

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click Here to Read Comments
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!