Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS) Sees Significant Decrease in Short Interest

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 885,192 shares, a decrease of 56.3% from the July 15th total of 2,024,544 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 577,692 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

VLRS has been the subject of several research analyst reports. Weiss Ratings cut Controladora Vuela Compania de Aviacion from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, July 31st. Itau BBA Securities cut shares of Controladora Vuela Compania de Aviacion from a “market perform” rating to an “underperform” rating and set a $7.40 price target on the stock. in a research note on Thursday, May 7th. Jefferies Financial Group initiated coverage on shares of Controladora Vuela Compania de Aviacion in a report on Thursday, June 18th. They issued a “hold” rating and a $10.00 price target for the company. The Goldman Sachs Group reduced their price objective on shares of Controladora Vuela Compania de Aviacion from $8.60 to $7.70 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Finally, UBS Group upped their target price on shares of Controladora Vuela Compania de Aviacion from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Controladora Vuela Compania de Aviacion currently has an average rating of “Hold” and an average price target of $9.42.

Insider Activity at Controladora Vuela Compania de Aviacion

In other news, Director William Dean Donovan sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $7.54, for a total value of $377,000.00. Following the completion of the sale, the director directly owned 2,946,050 shares of the company’s stock, valued at $22,213,217. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Controladora Vuela Compania de Aviacion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC purchased a new stake in Controladora Vuela Compania de Aviacion in the 1st quarter valued at approximately $1,279,000. UBS Group AG raised its holdings in shares of Controladora Vuela Compania de Aviacion by 108.5% in the fourth quarter. UBS Group AG now owns 432,989 shares of the transportation company’s stock worth $3,845,000 after acquiring an additional 225,336 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Controladora Vuela Compania de Aviacion in the first quarter valued at $1,103,000. M&T Bank Corp acquired a new stake in shares of Controladora Vuela Compania de Aviacion during the fourth quarter valued at $1,219,000. Finally, Dorsey Wright & Associates purchased a new stake in Controladora Vuela Compania de Aviacion during the 1st quarter worth about $1,840,000. Institutional investors and hedge funds own 53.32% of the company’s stock.

Controladora Vuela Compania de Aviacion Price Performance

VLRS traded down $0.17 during trading on Monday, reaching $7.71. 65,284 shares of the stock were exchanged, compared to its average volume of 688,542. The company has a debt-to-equity ratio of 6.78, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $898.40 million, a price-to-earnings ratio of -4.70 and a beta of 1.72. Controladora Vuela Compania de Aviacion has a 1 year low of $5.70 and a 1 year high of $10.80. The business’s 50 day moving average price is $8.32 and its two-hundred day moving average price is $8.12.

Controladora Vuela Compania de Aviacion (NYSE:VLRS) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.03). The firm had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $854.70 million. Controladora Vuela Compania de Aviacion had a negative net margin of 5.71% and a negative return on equity of 93.91%. As a group, equities research analysts anticipate that Controladora Vuela Compania de Aviacion will post -2.19 earnings per share for the current year.

Controladora Vuela Compania de Aviacion Company Profile

Controladora Vuela Compañia de Aviacion, SAB de CV (NYSE: VLRS) is a Mexico-based airline holding company whose primary business is the operation of low-cost scheduled air transportation services. Through its principal operating subsidiary, Volaris, the company provides passenger and cargo flights on domestic and international routes. Its business model emphasizes unbundled ancillary services and point-to-point operations designed to offer competitive fares across its network.

Volaris serves more than 120 routes linking major metropolitan areas and secondary cities in Mexico, the United States and Central America.