The Manufacturers Life Insurance Company Buys New Position in Grupo Aeromexico $AERO

Key Points

• The Manufacturers Life Insurance Company acquired 250,000 Grupo Aeromexico shares worth approximately $3.5 million, joining several other institutional investors that increased or initiated positions in the first quarter.
• Analyst sentiment remains generally positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average price target of $28.06, despite recent downgrades and JPMorgan lowering its target to $26.50.
• Grupo Aeromexico reported quarterly EPS of $(0.40), missing estimates of $(0.37), while the stock opened at $15.96 and remains below its 52-week high of $23.05. Insider Aaron James Murray also sold 350,000 shares, reducing his position by 17.78%.

The Manufacturers Life Insurance Company bought a new position in shares of Grupo Aeromexico (NYSE:AERO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 250,000 shares of the company's stock, valued at approximately $3,502,000. The Manufacturers Life Insurance Company owned 0.18% of Grupo Aeromexico as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AERO. Public Employees Retirement System of Ohio acquired a new stake in Grupo Aeromexico in the 1st quarter valued at about $56,000. Compass Rose Asset Management LP raised its holdings in shares of Grupo Aeromexico by 49.2% in the 1st quarter. Compass Rose Asset Management LP now owns 545,000 shares of the company's stock worth $7,635,000 after purchasing an additional 179,731 shares in the last quarter. Walleye Capital LLC acquired a new stake in Grupo Aeromexico during the first quarter valued at approximately $2,969,000. R Squared Ltd acquired a new stake in Grupo Aeromexico during the first quarter valued at approximately $163,000. Finally, Mariner Investment Group LLC bought a new stake in Grupo Aeromexico during the fourth quarter worth approximately $3,717,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AERO shares. Zacks Research upgraded shares of Grupo Aeromexico from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Wall Street Zen downgraded Grupo Aeromexico from a "buy" rating to a "hold" rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. reduced their price objective on Grupo Aeromexico from $28.00 to $26.50 and set an "overweight" rating for the company in a research note on Friday, June 12th. Jefferies Financial Group began coverage on Grupo Aeromexico in a research report on Thursday, June 18th. They set a "hold" rating and a $20.00 target price on the stock. Finally, Weiss Ratings downgraded Grupo Aeromexico from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $28.06.

Insider Activity

In other Grupo Aeromexico news, insider Aaron James Murray sold 350,000 shares of Grupo Aeromexico stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $1.56, for a total transaction of $546,000.00. Following the completion of the sale, the insider owned 1,618,130 shares of the company's stock, valued at $2,524,282.80. This trade represents a 17.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 12.82% of the stock is owned by company insiders.

Grupo Aeromexico Price Performance

NYSE AERO opened at $15.96 on Friday. The company has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $16.63. The firm has a market capitalization of $2.18 billion and a price-to-earnings ratio of 37.99. Grupo Aeromexico has a 52-week low of $12.26 and a 52-week high of $23.05.

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

About Grupo Aeromexico

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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