Rubric Capital Management LP Buys New Stake in Grupo Aeromexico $AERO

Rubric Capital Management LP purchased a new position in Grupo Aeromexico (NYSE:AERO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 467,129 shares of the company’s stock, valued at approximately $6,544,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AERO. Strategic Value Partners LLC acquired a new stake in Grupo Aeromexico during the fourth quarter valued at approximately $208,318,000. Seven Grand Managers LLC acquired a new position in shares of Grupo Aeromexico in the 4th quarter worth approximately $3,294,000. Zweig DiMenna Associates LLC bought a new position in shares of Grupo Aeromexico during the 4th quarter worth approximately $1,976,000. Norges Bank bought a new position in shares of Grupo Aeromexico during the 4th quarter worth approximately $8,784,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Grupo Aeromexico during the 4th quarter worth approximately $3,968,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AERO. Wall Street Zen cut Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group started coverage on Grupo Aeromexico in a report on Thursday, June 18th. They set a “hold” rating and a $20.00 price objective for the company. Zacks Research upgraded shares of Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings lowered shares of Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group upgraded shares of Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grupo Aeromexico currently has an average rating of “Moderate Buy” and an average price target of $28.06.

Grupo Aeromexico Price Performance

Shares of AERO opened at $15.20 on Tuesday. The company has a market capitalization of $2.07 billion and a P/E ratio of 36.19. Grupo Aeromexico has a one year low of $12.26 and a one year high of $23.05. The business’s 50 day simple moving average is $16.61 and its 200-day simple moving average is $16.91.

Grupo Aeromexico (NYSE:AERO) last released its quarterly 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). Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. The business had revenue of $1.48 billion for the quarter. On average, sell-side analysts anticipate that Grupo Aeromexico will post 1.05 EPS for the current fiscal year.

Insider Activity at Grupo Aeromexico

In other news, insider Aaron James Murray sold 350,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $1.56, for a total transaction of $546,000.00. Following the sale, the insider owned 1,618,130 shares in the company, valued at approximately $2,524,282.80. This represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.