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Seacor Marine shares surge 18.7% after largest shareholder urges strategic review
Seacor Marine shares jumped 18.7% to $7.93 in the last trading session on heavy volume after its largest shareholder, Jorey Chernett, who owns roughly 7.2% of outstanding shares, sent a letter to the board calling for an evaluation of strategic alternatives including an orderly sale of the company or a dual-track fleet sale. The stock had lost 7.4% over the prior four weeks. Seacor Marine is expected to report a quarterly loss of $1.24 per share on revenues of $45.6 million, down 25% year-over-year. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, and the stock carries a Zacks Rank of 3, or Hold.