Readystate Asset Management LP reduced its stake in shares of Grupo Aeromexico (NYSE:AERO – Free Report) by 41.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,000 shares of the company’s stock after selling 36,970 shares during the quarter. Readystate Asset Management LP’s holdings in Grupo Aeromexico were worth $936,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AERO. Bank of America Corp DE lifted its stake in shares of Grupo Aeromexico by 25.8% in the 1st quarter. Bank of America Corp DE now owns 1,439,555 shares of the company’s stock valued at $20,168,000 after purchasing an additional 295,646 shares during the last quarter. Oaktree Capital Management LP increased its position in shares of Grupo Aeromexico by 5.1% during the 1st quarter. Oaktree Capital Management LP now owns 3,968,686 shares of the company’s stock valued at $55,601,000 after purchasing an additional 191,700 shares during the last quarter. Rubric Capital Management LP purchased a new stake in Grupo Aeromexico during the 1st quarter valued at $6,544,000. The Manufacturers Life Insurance Company purchased a new stake in Grupo Aeromexico during the 1st quarter valued at $3,502,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Grupo Aeromexico in the first quarter worth $56,000.
Grupo Aeromexico Stock Up 0.2%
AERO stock opened at $15.82 on Tuesday. Grupo Aeromexico has a twelve month low of $12.26 and a twelve month high of $23.05. The firm has a market cap of $2.16 billion and a price-to-earnings ratio of 37.67. The business’s fifty day simple moving average is $15.63 and its two-hundred day simple moving average is $15.92.
Analyst Ratings Changes
Several research analysts have commented on AERO shares. Wall Street Zen lowered shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings lowered shares of Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Jefferies Financial Group began coverage on shares of Grupo Aeromexico in a research note on Thursday, June 18th. They set a “hold” rating and a $20.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Zacks Research downgraded shares of Grupo Aeromexico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.06.
Read Our Latest Research Report on Grupo Aeromexico
Insider Transactions at Grupo Aeromexico
In other Grupo Aeromexico news, insider Aaron Murray sold 355,600 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $1.58, for a total value of $561,848.00. Following the transaction, the insider directly owned 1,262,530 shares in the company, valued at $1,994,797.40. This represents a 21.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
About Grupo Aeromexico
Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.
The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.
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