The Manufacturers Life Insurance Company purchased a new stake in Grupo Aeromexico (NYSE:AERO – Free Report) in the 1st quarter, HoldingsChannel reports. The firm purchased 250,000 shares of the company’s stock, valued at approximately $3,502,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Value Partners LLC bought a new position in Grupo Aeromexico during the fourth quarter valued at approximately $208,318,000. Seven Grand Managers LLC acquired a new position in shares of Grupo Aeromexico during the 4th quarter worth $3,294,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Grupo Aeromexico in the 4th quarter valued at $1,976,000. Norges Bank bought a new stake in Grupo Aeromexico in the fourth quarter worth $8,784,000. Finally, Goldman Sachs Group Inc. bought a new stake in Grupo Aeromexico in the fourth quarter worth $3,968,000.
Analysts Set New Price Targets
Several equities analysts have weighed in on AERO shares. Weiss Ratings lowered Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. The Goldman Sachs Group raised Grupo Aeromexico to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a report on Friday, June 12th. Zacks Research raised Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.06.
Insider Transactions at Grupo Aeromexico
In other news, insider Aaron James Murray sold 350,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $1.56, for a total value of $546,000.00. Following the completion of the transaction, the insider owned 1,618,130 shares in the company, valued at approximately $2,524,282.80. This represents a 17.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.82% of the stock is owned by company insiders.
Grupo Aeromexico Trading Up 1.3%
Shares of NYSE:AERO opened at $15.96 on Friday. The firm has a market capitalization of $2.18 billion and a PE ratio of 37.99. Grupo Aeromexico has a 1-year low of $12.26 and a 1-year high of $23.05. The business’s 50 day moving average is $16.51 and its 200-day moving average is $16.63.
Grupo Aeromexico (NYSE:AERO – Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The firm had revenue of $1.48 billion during the quarter. Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. On average, sell-side analysts predict that Grupo Aeromexico will post 1.05 EPS for the current year.
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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