Grupo Aeromexico (NYSE:AERO) Shares Down 8.3% – Here’s What Happened

Grupo Aeromexico (NYSE:AERO)’s stock price fell 8.3% during trading on Monday . The company traded as low as $14.30 and last traded at $14.41. 132,281 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 381,536 shares. The stock had previously closed at $15.72.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Itau BBA Securities began coverage on Grupo Aeromexico in a research report on Sunday, November 30th. They set an “outperform” rating on the stock. The Goldman Sachs Group began coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Research upgraded Grupo Aeromexico to a “hold” rating in a report on Thursday, December 18th. Barclays raised their price objective on Grupo Aeromexico from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Finally, Citigroup assumed coverage on Grupo Aeromexico in a report on Wednesday, December 17th. They issued a “buy” rating and a $27.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Grupo Aeromexico currently has an average rating of “Moderate Buy” and a consensus price target of $30.83.

Grupo Aeromexico Stock Down 7.8%

The stock’s 50 day moving average is $19.91.

Institutional Trading of Grupo Aeromexico

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in Grupo Aeromexico in the 4th quarter valued at about $220,000. Sandia Investment Management LP acquired a new position in shares of Grupo Aeromexico in the fourth quarter valued at approximately $220,000. Quarry LP acquired a new stake in Grupo Aeromexico during the fourth quarter worth approximately $232,000. VR Advisory Services Ltd acquired a new stake in Grupo Aeromexico during the fourth quarter worth approximately $259,000. Finally, HRT Financial LP acquired a new position in Grupo Aeromexico in the 4th quarter valued at $295,000.

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.