Readystate Asset Management LP Sells 36,970 Shares of Grupo Aeromexico $AERO

Readystate Asset Management LP trimmed its position in Grupo Aeromexico (NYSE:AERO) by 41.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,000 shares of the company’s stock after selling 36,970 shares during the quarter. Readystate Asset Management LP’s holdings in Grupo Aeromexico were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Grupo Aeromexico in the first quarter valued at about $56,000. Federated Hermes Inc. bought a new position in Grupo Aeromexico during the 4th quarter worth about $220,000. Sandia Investment Management LP bought a new position in Grupo Aeromexico during the 4th quarter worth about $220,000. Quarry LP purchased a new position in Grupo Aeromexico during the 4th quarter valued at about $232,000. Finally, R Squared Ltd purchased a new position in Grupo Aeromexico during the 1st quarter valued at about $163,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AERO shares. JPMorgan Chase & Co. reduced their price target on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a report on Friday, June 12th. Jefferies Financial Group started coverage on shares of Grupo Aeromexico in a research note on Thursday, June 18th. They set a “hold” rating and a $20.00 price objective on the stock. Zacks Research downgraded shares of Grupo Aeromexico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings lowered Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Finally, Wall Street Zen cut Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Grupo Aeromexico has a consensus rating of “Moderate Buy” and a consensus price target of $28.06.

Grupo Aeromexico Trading Up 0.2%

Shares of AERO opened at $15.82 on Tuesday. Grupo Aeromexico has a 12 month low of $12.26 and a 12 month high of $23.05. The stock has a fifty day moving average price of $15.63 and a 200-day moving average price of $15.92. The firm has a market cap of $2.16 billion and a PE ratio of 37.67.

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 the consensus estimate of ($0.37) by ($0.03). Grupo Aeromexico had a negative return on equity of 25.10% and a net margin of 3.78%.The business had revenue of $1.48 billion for the quarter. As a group, research analysts forecast that Grupo Aeromexico will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron Murray sold 355,600 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $1.58, for a total value of $561,848.00. Following the completion of the sale, the insider owned 1,262,530 shares of the company’s stock, valued at approximately $1,994,797.40. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grupo Aeromexico 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.