Arrowstreet Capital Limited Partnership Sells 1,279,464 Shares of Controladora Vuela Compania de Aviacion, S.A.B. de C.V. $VLRS

Key Points

• Arrowstreet Capital cut its VLRS stake by 84.7%, selling 1,279,464 shares and retaining 230,654 shares valued at approximately $1.67 million. Institutional investors collectively own 53.32% of the company.
• Controladora Vuela reported quarterly revenue of $859 million, slightly above estimates, but missed earnings expectations with a loss of $1.11 per share. Analysts expect a full-year loss of approximately $2.19 per share.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $9.41, compared with the stock’s reported price of $8.38.

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS - Free Report) by 84.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 230,654 shares of the transportation company's stock after selling 1,279,464 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.20% of Controladora Vuela Compania de Aviacion worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Controladora Vuela Compania de Aviacion by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 5,053,229 shares of the transportation company's stock valued at $44,873,000 after acquiring an additional 128,088 shares during the period. Thomist Capital Management LP boosted its holdings in Controladora Vuela Compania de Aviacion by 3.9% in the 4th quarter. Thomist Capital Management LP now owns 1,009,652 shares of the transportation company's stock valued at $8,916,000 after purchasing an additional 37,457 shares during the period. Millennium Management LLC boosted its holdings in Controladora Vuela Compania de Aviacion by 126.5% in the 4th quarter. Millennium Management LLC now owns 990,495 shares of the transportation company's stock valued at $8,796,000 after purchasing an additional 553,251 shares during the period. Fourth Sail Capital LP grew its position in Controladora Vuela Compania de Aviacion by 0.4% in the 4th quarter. Fourth Sail Capital LP now owns 757,761 shares of the transportation company's stock worth $6,729,000 after purchasing an additional 3,277 shares during the last quarter. Finally, Walleye Capital LLC grew its position in Controladora Vuela Compania de Aviacion by 100.6% in the 4th quarter. Walleye Capital LLC now owns 527,323 shares of the transportation company's stock worth $4,683,000 after purchasing an additional 264,446 shares during the last quarter. Institutional investors and hedge funds own 53.32% of the company's stock.

Controladora Vuela Compania de Aviacion Price Performance

NYSE:VLRS opened at $8.38 on Thursday. The company has a debt-to-equity ratio of 6.78, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50-day moving average of $8.28 and a 200-day moving average of $8.18. Controladora Vuela Compania de Aviacion, S.A.B. de C.V. has a 52 week low of $5.53 and a 52 week high of $10.80. The company has a market capitalization of $977.67 million, a price-to-earnings ratio of -5.11 and a beta of 1.72.

Controladora Vuela Compania de Aviacion (NYSE:VLRS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The transportation company reported ($1.11) earnings per share for the quarter, missing analysts' consensus estimates of ($1.08) by ($0.03). Controladora Vuela Compania de Aviacion had a negative net margin of 5.71% and a negative return on equity of 93.91%. The business had revenue of $859.00 million during the quarter, compared to the consensus estimate of $854.70 million. As a group, equities research analysts anticipate that Controladora Vuela Compania de Aviacion, S.A.B. de C.V. will post -2.19 earnings per share for the current fiscal year.

Insider Activity at Controladora Vuela Compania de Aviacion

In related news, Director William Dean Donovan sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $7.54, for a total transaction of $377,000.00. Following the completion of the transaction, the director owned 2,946,050 shares in the company, valued at $22,213,217. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Controladora Vuela Compania de Aviacion from a "buy" rating to a "neutral" rating and set a $7.60 price objective for the company. in a research report on Monday, April 13th. JPMorgan Chase & Co. decreased their target price on Controladora Vuela Compania de Aviacion from $10.50 to $9.50 and set a "neutral" rating on the stock in a research report on Friday, June 12th. Jefferies Financial Group started coverage on Controladora Vuela Compania de Aviacion in a research note on Thursday, June 18th. They set a "hold" rating and a $10.00 price target on the stock. Barclays cut their price target on Controladora Vuela Compania de Aviacion from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, UBS Group raised their price objective on Controladora Vuela Compania de Aviacion from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Controladora Vuela Compania de Aviacion currently has a consensus rating of "Hold" and an average price target of $9.41.

Controladora Vuela Compania de Aviacion Profile

Controladora Vuela Compañia de Aviacion, SAB de CV NYSE: VLRS is a Mexico-based airline holding company whose primary business is the operation of low-cost scheduled air transportation services. Through its principal operating subsidiary, Volaris, the company provides passenger and cargo flights on domestic and international routes. Its business model emphasizes unbundled ancillary services and point-to-point operations designed to offer competitive fares across its network.

Volaris serves more than 120 routes linking major metropolitan areas and secondary cities in Mexico, the United States and Central America.

Want to see what other hedge funds are holding VLRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source