Afya (NASDAQ:AFYA) Shares Gap Up After Analyst Upgrade

Key Points

• Afya Limited's stock price increased from a previous close of $15.04 to an opening price of $16.16 following an upgrade from JPMorgan Chase & Co. from a neutral to an overweight rating.
• The new price target set by JPMorgan is $24.50, reflecting an increase from the prior target of $23.50.
• Institutional ownership of Afya is substantial, with 88.02% of the company's stock held by institutional investors and hedge funds.

Afya Limited (NASDAQ:AFYA - Get Free Report) gapped up prior to trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $15.04, but opened at $16.16. JPMorgan Chase & Co. now has a $24.50 price target on the stock, up from their previous price target of $23.50. Afya shares last traded at $15.25, with a volume of 82,712 shares.

AFYA has been the topic of a number of other reports. Zacks Research raised shares of Afya to a "hold" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Afya from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. UBS Group raised shares of Afya from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $19.50 to $19.00 in a report on Monday. Citigroup raised shares of Afya from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $16.00 to $14.00 in a report on Tuesday, July 29th. Finally, Morgan Stanley set a $17.50 price objective on shares of Afya and gave the company an "overweight" rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.20.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Afya by 40.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,800 shares of the company's stock worth $44,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Afya by 1,099.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $64,000 after purchasing an additional 3,695 shares during the last quarter. Militia Capital Partners LP acquired a new position in shares of Afya during the 2nd quarter worth about $71,000. Quantbot Technologies LP acquired a new position in shares of Afya during the 2nd quarter worth about $117,000. Finally, State of Wyoming acquired a new position in shares of Afya during the 2nd quarter worth about $164,000. Institutional investors and hedge funds own 88.02% of the company's stock.

Afya Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average is $15.28 and its two-hundred day moving average is $17.03. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.53 and a beta of 0.56.

Afya Company Profile

Afya Limited, through its subsidiaries, operates as a medical education group in Brazil. The company operates through three segments: Undergrad, Continuing Education, and Digital Services. It offers educational products and services, including medical schools, medical residency preparatory courses, graduate courses, and other programs to lifelong medical learners enrolled across its distribution network, as well as to third-party medical schools.

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