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

Readystate Asset Management LP reduced its position in Grupo Aeromexico (NYSE:AERO) by 35.1% in the first quarter, Holdings Channel.com reports. The firm owned 88,970 shares of the company’s stock after selling 48,030 shares during the quarter. Readystate Asset Management LP’s holdings in Grupo Aeromexico were worth $1,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Grupo Aeromexico in the first quarter worth approximately $56,000. R Squared Ltd bought a new stake in shares of Grupo Aeromexico in the 1st quarter worth approximately $163,000. Federated Hermes Inc. purchased a new stake in shares of Grupo Aeromexico in the 4th quarter valued at $220,000. Sandia Investment Management LP bought a new position in shares of Grupo Aeromexico during the 4th quarter valued at $220,000. Finally, Quarry LP purchased a new position in Grupo Aeromexico in the 4th quarter worth $232,000.

Grupo Aeromexico Price Performance

Shares of NYSE AERO opened at $15.08 on Thursday. Grupo Aeromexico has a 1 year low of $12.26 and a 1 year high of $23.05. The stock has a market capitalization of $2.06 billion and a P/E ratio of 35.90. The company’s 50-day moving average is $16.62 and its 200 day moving average is $16.82.

Grupo Aeromexico (NYSE:AERO) last posted its quarterly earnings data 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 net margin of 3.78% and a negative return on equity of 25.10%. The firm had revenue of $1.48 billion for the quarter. Research analysts anticipate that Grupo Aeromexico will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on AERO. Jefferies Financial Group began coverage on shares of Grupo Aeromexico in a research report on Thursday, June 18th. They set a “hold” rating and a $20.00 price target for the company. Zacks Research upgraded Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. JPMorgan Chase & Co. decreased their price target on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Weiss Ratings lowered Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Tuesday. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.06.

Insider Activity at Grupo Aeromexico

In other news, insider Aaron James Murray sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $1.51, for a total value of $906,000.00. Following the completion of the transaction, the insider owned 1,968,130 shares in the company, valued at $2,971,876.30. This trade represents a 23.36% decrease in their position. The transaction 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 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.