Readystate Asset Management LP Sells 48,030 Shares of Grupo Aeromexico $AERO

Readystate Asset Management LP reduced its holdings in shares of Grupo Aeromexico (NYSE:AERO) by 35.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,970 shares of the company’s stock after selling 48,030 shares during the quarter. Readystate Asset Management LP owned approximately 0.07% of Grupo Aeromexico worth $1,246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AERO. Monashee Investment Management LLC purchased a new position in shares of Grupo Aeromexico in the 4th quarter worth about $2,012,000. Strategic Value Partners LLC bought a new position in Grupo Aeromexico during the fourth quarter valued at about $208,318,000. Walleye Capital LLC purchased a new stake in Grupo Aeromexico during the first quarter worth about $2,969,000. Element Capital Management LLC purchased a new stake in Grupo Aeromexico during the fourth quarter worth about $798,000. Finally, Seven Grand Managers LLC bought a new stake in Grupo Aeromexico in the fourth quarter worth about $3,294,000.

Insider Transactions at Grupo Aeromexico

In other Grupo Aeromexico news, insider Aaron James Murray sold 350,000 shares of Grupo Aeromexico stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,618,130 shares in the company, valued at $2,524,282.80. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.82% of the stock is currently owned by insiders.

Grupo Aeromexico Stock Performance

NYSE:AERO opened at $15.08 on Thursday. The firm has a market capitalization of $2.06 billion and a price-to-earnings ratio of 35.90. Grupo Aeromexico has a 52-week low of $12.26 and a 52-week high of $23.05. The stock has a fifty day moving average of $16.62 and a 200 day moving average of $16.82.

Grupo Aeromexico (NYSE:AERO) last announced its earnings results on Tuesday, July 14th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The business had revenue of $1.48 billion during the quarter. Grupo Aeromexico had a negative return on equity of 25.10% and a net margin of 3.78%. Equities analysts forecast that Grupo Aeromexico will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AERO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Jefferies Financial Group began coverage on shares of Grupo Aeromexico in a report on Thursday, June 18th. They issued a “hold” rating and a $20.00 price target on the stock. The Goldman Sachs Group upgraded Grupo Aeromexico to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen lowered Grupo Aeromexico from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Research raised Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.06.

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.