Element Capital Management LLC Buys Shares of 36,345 Grupo Aeromexico $AERO

Element Capital Management LLC purchased a new position in Grupo Aeromexico (NYSE:AERO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 36,345 shares of the company’s stock, valued at approximately $798,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sandia Investment Management LP bought a new position in Grupo Aeromexico in the fourth quarter worth approximately $220,000. Federated Hermes Inc. bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $220,000. Quarry LP bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $232,000. HRT Financial LP purchased a new stake in shares of Grupo Aeromexico during the 4th quarter worth $295,000. Finally, Hound Partners LLC bought a new stake in Grupo Aeromexico during the fourth quarter valued at about $439,000.

Grupo Aeromexico Stock Up 2.7%

Shares of Grupo Aeromexico stock opened at $17.70 on Thursday. The company has a 50 day moving average price of $15.94 and a 200 day moving average price of $17.63. The firm has a market capitalization of $2.42 billion and a P/E ratio of 21.59. Grupo Aeromexico has a 52 week low of $12.26 and a 52 week high of $23.05.

Grupo Aeromexico (NYSE:AERO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $1.34 billion for the quarter. Grupo Aeromexico had a net margin of 6.17% and a negative return on equity of 41.04%. As a group, research analysts anticipate that Grupo Aeromexico will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on AERO shares. Zacks Research upgraded Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Wall Street Zen downgraded shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Barclays reduced their price objective on shares of Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Weiss Ratings cut shares of Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded shares of Grupo Aeromexico to a “strong-buy” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Grupo Aeromexico has an average rating of “Moderate Buy” and an average price target of $29.21.

Insider Activity

In related news, insider Aaron James Murray sold 600,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 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.