Avianca Holdings S.A. (AVH) Position Lowered by Acadian Asset Management LLC
Acadian Asset Management LLC reduced its position in shares of Avianca Holdings S.A. (NYSE:AVH) by 16.9% during the second quarter, Holdings Channel reports. The fund owned 711,534 shares of the transportation company’s stock after selling 145,144 shares during the period. Acadian Asset Management LLC’s holdings in Avianca Holdings were worth $4,625,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Avianca Holdings by 90.6% in the fourth quarter. Renaissance Technologies LLC now owns 306,900 shares of the transportation company’s stock worth $2,959,000 after buying an additional 145,900 shares during the last quarter. James Investment Research Inc. increased its position in Avianca Holdings by 62.4% in the first quarter. James Investment Research Inc. now owns 350,918 shares of the transportation company’s stock worth $2,706,000 after buying an additional 134,778 shares during the last quarter. Russell Investments Group Ltd. increased its position in Avianca Holdings by 11.1% in the first quarter. Russell Investments Group Ltd. now owns 151,326 shares of the transportation company’s stock worth $1,167,000 after buying an additional 15,063 shares during the last quarter. Oxford Asset Management acquired a new position in Avianca Holdings during the first quarter worth approximately $590,000. Finally, IPG Investment Advisors LLC acquired a new position in Avianca Holdings during the first quarter worth approximately $375,000. Institutional investors and hedge funds own 2.83% of the company’s stock.
Shares of Avianca Holdings S.A. (NYSE AVH) traded down 0.56% during mid-day trading on Friday, hitting $7.13. The company had a trading volume of 11,654 shares. The stock has a market cap of $888.56 million, a price-to-earnings ratio of 28.75 and a beta of 0.87. The stock’s 50-day moving average is $6.90 and its 200-day moving average is $7.37. Avianca Holdings S.A. has a 52-week low of $5.78 and a 52-week high of $10.91.
The company also recently disclosed an annual dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 27th will be issued a $0.09 dividend. This is a positive change from Avianca Holdings’s previous annual dividend of $0.03. This represents a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, July 25th. Avianca Holdings’s payout ratio is currently 18.37%.
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A number of research analysts have recently commented on AVH shares. Avian Securities increased their price objective on Avianca Holdings from $8.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, April 20th. Deutsche Bank AG downgraded Avianca Holdings from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $8.00 in a report on Thursday, April 20th. Zacks Investment Research downgraded Avianca Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 2nd. J P Morgan Chase & Co downgraded Avianca Holdings from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 24th. Finally, UBS AG downgraded Avianca Holdings from a “neutral” rating to a “sell” rating in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $9.25.
Avianca Holdings Company Profile
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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