Zacks Investment Research cut shares of Avianca Holdings SA (NYSE:AVH) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Avianca Holdings, S.A. owns and operates airlines. It offers passenger air transportation services and cargo air transportation services. The company provides its services in the domestic markets of Colombia, Ecuador, and Peru, as well as for international routes, such as North America, Central and South America, Europe, and the Caribbean. Avianca Holdings, S.A. is based in Panama. “

Avianca Holdings SA (NYSE:AVH) opened at 6.99 on Tuesday. The company’s 50-day moving average is $6.72 and its 200 day moving average is $6.46. The company’s market cap is $871.11 million. Avianca Holdings SA has a 1-year low of $3.40 and a 1-year high of $7.65.

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A number of hedge funds have recently added to or reduced their stakes in AVH. Emerald Acquisition Ltd. purchased a new stake in Avianca Holdings SA during the second quarter worth $968,000. Dynamic Technology Lab Private Ltd purchased a new stake in Avianca Holdings SA during the second quarter worth $133,000. JPMorgan Chase & Co. increased its stake in Avianca Holdings SA by 51.0% in the second quarter. JPMorgan Chase & Co. now owns 136,477 shares of the company’s stock worth $841,000 after buying an additional 46,113 shares in the last quarter. Pacific Alternative Asset Management Company LLC purchased a new stake in Avianca Holdings SA during the third quarter worth $8,055,000. Finally, IPG Investment Advisors LLC increased its stake in Avianca Holdings SA by 187.8% in the third quarter. IPG Investment Advisors LLC now owns 41,730 shares of the company’s stock worth $270,000 after buying an additional 27,230 shares in the last quarter. 4.36% of the stock is owned by institutional investors and hedge funds.

About Avianca Holdings SA

Avianca Holdings SA is a Panama-based company engaged, through its subsidiaries, in the provision of air transportation services for passengers and commercial purposes. The Company was originally established as a strategic alliance between Aerovias del Continente Americano SA (AVIANCA) and Grupo TACA Holdings Limited (GTH), and it mainly operates in North, Central and South America, the Caribbean and Europe.

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