Mackenzie Financial Corp Reduces Holdings in Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in Controladora Vuela Compania de Aviacion, decreasing holdings by 98% in the first quarter, leaving it with only 12,468 shares valued at $65,000.
• Multiple institutional investors made adjustments to their stakes in Controladora Vuela, including a new acquisition by ABS Direct Equity Fund LLC worth approximately $1.83 million.
• Wall Street analysts have mixed sentiments on Controladora Vuela, with price targets ranging from $4.40 to $8.00, resulting in an overall average rating of "Moderate Buy".

Mackenzie Financial Corp trimmed its stake in Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS - Free Report) by 98.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,468 shares of the transportation company's stock after selling 599,046 shares during the period. Mackenzie Financial Corp's holdings in Controladora Vuela Compania de Aviacion were worth $65,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of Controladora Vuela Compania de Aviacion by 34.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the transportation company's stock valued at $48,000 after acquiring an additional 1,641 shares during the period. Prudential Financial Inc. acquired a new position in shares of Controladora Vuela Compania de Aviacion in the 4th quarter valued at about $79,000. Sei Investments Co. acquired a new position in shares of Controladora Vuela Compania de Aviacion in the 4th quarter valued at about $79,000. QRG Capital Management Inc. purchased a new position in shares of Controladora Vuela Compania de Aviacion in the 1st quarter valued at about $105,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Controladora Vuela Compania de Aviacion in the 4th quarter valued at about $153,000. 53.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

VLRS has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on Controladora Vuela Compania de Aviacion from $13.00 to $7.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Barclays upped their price objective on Controladora Vuela Compania de Aviacion from $4.50 to $5.50 and gave the company an "equal weight" rating in a report on Thursday, July 24th. The Goldman Sachs Group decreased their price objective on Controladora Vuela Compania de Aviacion from $9.60 to $8.60 and set a "buy" rating on the stock in a report on Tuesday, June 10th. TD Cowen upped their price objective on Controladora Vuela Compania de Aviacion from $6.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group upped their price target on Controladora Vuela Compania de Aviacion from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Controladora Vuela Compania de Aviacion currently has an average rating of "Moderate Buy" and a consensus target price of $7.94.

Controladora Vuela Compania de Aviacion Stock Down 1.6%

Shares of Controladora Vuela Compania de Aviacion stock traded down $0.10 during trading hours on Thursday, reaching $5.82. 134,855 shares of the company were exchanged, compared to its average volume of 1,014,537. Controladora Vuela Compania de Aviacion, S.A.B. de C.V. has a 1 year low of $3.49 and a 1 year high of $9.00. The stock's fifty day moving average is $4.96 and its 200 day moving average is $5.39. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.68 and a current ratio of 0.69. The firm has a market cap of $678.03 million, a PE ratio of -21.54 and a beta of 2.15.

Controladora Vuela Compania de Aviacion (NYSE:VLRS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The transportation company reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.21. The business had revenue of $693.00 million for the quarter, compared to analyst estimates of $664.01 million. Controladora Vuela Compania de Aviacion had a negative return on equity of 9.89% and a negative net margin of 1.03%. During the same quarter in the prior year, the company earned $0.09 earnings per share. As a group, equities research analysts forecast that Controladora Vuela Compania de Aviacion, S.A.B. de C.V. will post 1.21 earnings per share for the current year.

Controladora Vuela Compania de Aviacion Profile

Controladora Vuela Compañía de Aviación, SAB. de C.V., through its subsidiary, Concesionaria Vuela Compañía de Aviación, SAP.I. de C.V., provides air transportation services for passengers, cargo, and mail in Mexico and internationally. The company operates approximately 590 daily flights on routes connecting 43 cities in Mexico, 22 cities in the United States, 4 cities in Central America, and 2 cities in South America.