Helix Energy (NYSE:HLX) Sees Stake Changes

2 min read | December 23, 2024 12:32 PM EST | By Team Kalkine Media

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Franklin Resources Inc. reduces its stake in Helix Energy Solutions Group

Hedge funds adjust their positions in Helix Energy Solutions Group

Majority of Helix Energy Solutions Group stock held by institutional investors

Franklin Resources Inc. has reduced its position in Helix Energy Solutions Group (NYSE:HLX), following a decrease in its holdings during the latest quarter. The company now holds a smaller stake, reflecting a change in its investment strategy. This shift marks a 13.8% reduction in the number of shares owned, totaling 664,758 shares after selling a portion of its holdings. As of the most recent filing, Franklin Resources' stake in the company is valued at approximately $7 million, representing a minimal percentage of the total shares.

Institutional interest in Helix Energy Solutions Group has seen mixed activity as other hedge funds adjust their positions. Assetmark Inc. entered the picture, acquiring a small stake valued at approximately $33,000 in the third quarter. Additionally, Point72 Asia Singapore Pte. Ltd. made a similar move by purchasing a position in Helix Energy Solutions Group earlier in the year. Other institutional players, including Millburn Ridgefield Corp and GAMMA Investing LLC, have also made incremental adjustments to their stakes.

GAMMA Investing, in particular, saw a notable 21.1% increase in its holdings, now owning over 7,700 shares in the company. Alongside these changes, Paloma Partners Management Co. made its entry with a stake valued at $130,000 in the latest quarter.

A significant portion of Helix Energy Solutions Group's stock remains in the hands of institutional investors, with nearly 91.33% of the shares owned by entities such as Franklin Resources and others. This reflects ongoing institutional confidence and the fluidity of investment movements within the energy sector.

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