Bank of America Corp DE Purchases 295,646 Shares of Grupo Aeromexico $AERO

Key Points

• Bank of America increased its Grupo Aeromexico stake by 25.8% in the first quarter, purchasing 295,646 additional shares and bringing its holdings to 1.44 million shares, worth approximately $20.2 million.
• Several major investment firms, including Par Capital Management, Silver Point Capital and Strategic Value Partners, established substantial new positions in the airline during the fourth quarter.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $28.06, despite Grupo Aeromexico missing its latest quarterly EPS estimate and shares trading at $14.81.

Bank of America Corp DE grew its holdings in shares of Grupo Aeromexico (NYSE:AERO - Free Report) by 25.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,439,555 shares of the company's stock after purchasing an additional 295,646 shares during the quarter. Bank of America Corp DE owned about 1.06% of Grupo Aeromexico worth $20,168,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Par Capital Management Inc. bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at $304,155,000. Silver Point Capital L.P. bought a new position in Grupo Aeromexico in the 4th quarter worth about $289,274,000. Strategic Value Partners LLC purchased a new position in Grupo Aeromexico during the 4th quarter valued at about $208,318,000. Nut Tree Capital Management LP purchased a new position in Grupo Aeromexico during the 4th quarter valued at about $130,652,000. Finally, Baupost Group LLC MA bought a new stake in shares of Grupo Aeromexico during the fourth quarter valued at about $106,620,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Grupo Aeromexico from a "buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Jefferies Financial Group started coverage on shares of Grupo Aeromexico in a report on Thursday, June 18th. They set a "hold" rating and a $20.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Grupo Aeromexico from $28.00 to $26.50 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Zacks Research raised shares of Grupo Aeromexico from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Grupo Aeromexico from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grupo Aeromexico presently has a consensus rating of "Moderate Buy" and an average target price of $28.06.

Grupo Aeromexico Price Performance

Shares of NYSE:AERO opened at $14.81 on Wednesday. The company's fifty day moving average price is $16.41 and its 200-day moving average price is $16.35. The firm has a market capitalization of $2.02 billion and a price-to-earnings ratio of 35.26. Grupo Aeromexico has a one year low of $12.26 and a one year high of $23.05.

Grupo Aeromexico (NYSE:AERO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.03). Grupo Aeromexico had a negative return on equity of 25.10% and a net margin of 3.78%.The company had revenue of $1.48 billion for the quarter. As a group, equities research analysts expect that Grupo Aeromexico will post 1.05 EPS for the current year.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 355,600 shares of Grupo Aeromexico stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $1.58, for a total transaction of $561,848.00. Following the completion of the sale, the insider owned 1,262,530 shares of the company's stock, valued at $1,994,797.40. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Grupo Aeromexico Company 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.

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