China Southern Airlines Co (NYSE:ZNH) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.99, but opened at $30.71. China Southern Airlines shares last traded at $31.69, with a volume of 23,243 shares changing hands.

Separately, Zacks Investment Research upgraded China Southern Airlines from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th.

The firm has a market cap of $6.27 billion and a P/E ratio of 9.01. The stock’s 50-day moving average price is $28.96 and its 200 day moving average price is $30.53.

The firm also recently declared a dividend, which was paid on Thursday, July 14th. Shareholders of record on Friday, June 10th were paid a $0.529 dividend. The ex-dividend date of this dividend was Wednesday, June 8th.

An institutional investor recently raised its position in China Southern Airlines stock. Morgan Stanley boosted its position in shares of China Southern Airlines Co (NYSE:ZNH) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,628 shares of the company’s stock after buying an additional 3,617 shares during the period. Morgan Stanley’s holdings in China Southern Airlines were worth $1,664,000 at the end of the most recent reporting period.

China Southern Airlines Company Limited is engaged in airline operations. The Company also operates certain airline related businesses, including provision of aircraft maintenance and air catering services. The Company operates through the airline transportation operations segment. The Company’s other segments consist primarily of business segments of hotel and tour operation, ground services, cargo handling and other miscellaneous services.

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