RWC Asset Management LLP Makes New Investment in Grupo Aeromexico $AERO

RWC Asset Management LLP purchased a new position in Grupo Aeromexico (NYSE:AERO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,350 shares of the company’s stock, valued at approximately $2,731,000. RWC Asset Management LLP owned about 0.09% of Grupo Aeromexico as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Compass Rose Asset Management LP bought a new stake in Grupo Aeromexico in the fourth quarter worth $8,021,000. Goldman Sachs Group Inc. purchased a new position in shares of Grupo Aeromexico in the fourth quarter valued at about $3,968,000. Norges Bank purchased a new position in shares of Grupo Aeromexico in the fourth quarter valued at about $8,784,000. Zweig DiMenna Associates LLC purchased a new position in shares of Grupo Aeromexico in the fourth quarter valued at about $1,976,000. Finally, Seven Grand Managers LLC purchased a new position in shares of Grupo Aeromexico in the fourth quarter valued at about $3,294,000.

Grupo Aeromexico Price Performance

Shares of NYSE AERO opened at $16.16 on Monday. The stock has a market capitalization of $2.20 billion and a P/E ratio of 19.71. Grupo Aeromexico has a 1 year low of $12.26 and a 1 year high of $23.05. The company’s 50-day moving average is $15.47 and its 200 day moving average is $17.66.

Grupo Aeromexico (NYSE:AERO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.01 earnings per share 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%. Research analysts anticipate that Grupo Aeromexico will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

AERO has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective 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. Zacks Research upgraded shares of Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Barclays reduced their price target 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. Wall Street Zen cut shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group upgraded shares of Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 600,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $1.51, for a total transaction of $906,000.00. Following the completion of the sale, the insider directly owned 1,968,130 shares of the company’s stock, valued at approximately $2,971,876.30. This represents a 23.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.