Grupo Aeromexico $AERO Shares Purchased by Oaktree Capital Management LP

Oaktree Capital Management LP boosted its position in Grupo Aeromexico (NYSE:AERO) by 5.1% in the 1st quarter, Holdings Channel reports. The fund owned 3,968,686 shares of the company’s stock after purchasing an additional 191,700 shares during the period. Grupo Aeromexico makes up about 0.7% of Oaktree Capital Management LP’s investment portfolio, making the stock its 29th biggest position. Oaktree Capital Management LP’s holdings in Grupo Aeromexico were worth $55,601,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Grupo Aeromexico in the first quarter valued at $56,000. R Squared Ltd purchased a new position in Grupo Aeromexico during the first quarter worth about $163,000. Federated Hermes Inc. acquired a new stake in Grupo Aeromexico in the 4th quarter worth about $220,000. Sandia Investment Management LP purchased a new stake in Grupo Aeromexico in the 4th quarter valued at about $220,000. Finally, Quarry LP acquired a new position in shares of Grupo Aeromexico during the 4th quarter valued at about $232,000.

Grupo Aeromexico Price Performance

Shares of NYSE AERO opened at $15.08 on Thursday. Grupo Aeromexico has a 1-year low of $12.26 and a 1-year high of $23.05. The company has a market capitalization of $2.06 billion and a price-to-earnings ratio of 35.90. The business has a 50-day moving average of $16.62 and a 200-day moving average of $16.82.

Grupo Aeromexico (NYSE:AERO) last released its quarterly earnings results on Tuesday, July 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $1.48 billion for the quarter. Grupo Aeromexico had a negative return on equity of 25.10% and a net margin of 3.78%. Research analysts expect that Grupo Aeromexico will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AERO has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Wall Street Zen cut shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group raised Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. lowered their price target on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, Zacks Research upgraded Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Grupo Aeromexico has a consensus rating of “Moderate Buy” and a consensus price target of $28.06.

Insider Activity

In other news, insider Aaron James Murray sold 350,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $1.56, for a total transaction of $546,000.00. Following the transaction, the insider directly owned 1,618,130 shares of the company’s stock, valued at approximately $2,524,282.80. The trade was a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.82% of the stock is owned by corporate insiders.

Grupo Aeromexico Company Profile

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.