RWC Asset Management LLP Invests $2.73 Million in Grupo Aeromexico $AERO

RWC Asset Management LLP acquired a new position in Grupo Aeromexico (NYSE:AERO) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 124,350 shares of the company’s stock, valued at approximately $2,731,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Zweig DiMenna Associates LLC purchased a new position in Grupo Aeromexico during the fourth quarter valued at $1,976,000. Seven Grand Managers LLC purchased a new position in Grupo Aeromexico during the fourth quarter valued at $3,294,000. Goldman Sachs Group Inc. purchased a new position in Grupo Aeromexico during the fourth quarter valued at $3,968,000. Compass Rose Asset Management LP purchased a new position in Grupo Aeromexico during the fourth quarter valued at $8,021,000. Finally, Norges Bank purchased a new position in Grupo Aeromexico during the fourth quarter valued at $8,784,000.

Grupo Aeromexico Trading Up 0.4%

Shares of AERO opened at $16.16 on Monday. Grupo Aeromexico has a 12-month low of $12.26 and a 12-month high of $23.05. The firm has a 50-day moving average price of $15.47 and a 200 day moving average price of $17.66. The firm has a market capitalization of $2.20 billion and a P/E ratio of 19.71.

Grupo Aeromexico (NYSE:AERO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.01 earnings per share (EPS) for the quarter. Grupo Aeromexico had a net margin of 6.17% and a negative return on equity of 41.04%. The firm had revenue of $1.34 billion during the quarter. Equities research analysts predict that Grupo Aeromexico will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays cut their target price on shares of Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. JPMorgan Chase & Co. dropped their target price on shares of Grupo Aeromexico from $28.50 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. The Goldman Sachs Group upgraded shares of Grupo Aeromexico to a “strong-buy” rating in a research note on Monday, April 13th. Finally, Zacks Research upgraded shares of Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned 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 $29.43.

Insider Activity

In related news, insider Aaron James Murray sold 350,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $1.56, for a total value of $546,000.00. Following the completion of the sale, the insider owned 1,618,130 shares of the company’s stock, 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 SEC, which can be accessed through this link.

About Grupo Aeromexico

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.