Short Interest in Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) Expands By 36.0%

Key Points

• Short interest jumped 36% — short interest rose to 408,349 shares as of Feb 27 (about 0.8% of shares) with a days-to-cover of approximately 2.7 days.
• Earnings missed expectations — on Feb 24 GAP reported quarterly EPS of $1.97 versus the $3.08 consensus and revenue of $549.0M versus $613.3M expected.
• Mixed analyst and institutional activity — several firms have upgraded the stock (including JPMorgan and Bank of America) but the MarketBeat consensus remains a Hold, and institutions own about 11.73% of the shares.

Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Get Free Report) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 408,349 shares, an increase of 36.0% from the February 12th total of 300,347 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 151,983 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 151,983 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Grupo Aeroportuario Del Pacifico

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triasima Portfolio Management inc. purchased a new stake in shares of Grupo Aeroportuario Del Pacifico in the third quarter valued at approximately $2,056,000. American Century Companies Inc. raised its position in Grupo Aeroportuario Del Pacifico by 192.5% in the second quarter. American Century Companies Inc. now owns 143,018 shares of the transportation company's stock worth $32,840,000 after acquiring an additional 94,115 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Grupo Aeroportuario Del Pacifico in the second quarter worth $1,387,000. Lazard Asset Management LLC lifted its holdings in Grupo Aeroportuario Del Pacifico by 7.6% in the second quarter. Lazard Asset Management LLC now owns 835,369 shares of the transportation company's stock valued at $191,816,000 after acquiring an additional 59,351 shares during the period. Finally, Empirical Finance LLC acquired a new stake in Grupo Aeroportuario Del Pacifico in the second quarter valued at $3,593,000. Institutional investors and hedge funds own 11.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PAC shares. Zacks Research upgraded shares of Grupo Aeroportuario Del Pacifico from a "strong sell" rating to a "hold" rating in a research report on Monday, February 9th. JPMorgan Chase & Co. upgraded shares of Grupo Aeroportuario Del Pacifico from a "neutral" rating to an "overweight" rating in a research report on Friday, November 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Thursday, January 22nd. Scotiabank reissued a "sector perform" rating on shares of Grupo Aeroportuario Del Pacifico in a research report on Thursday, December 4th. Finally, Bank of America raised shares of Grupo Aeroportuario Del Pacifico from an "underperform" rating to a "buy" rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold".

Grupo Aeroportuario Del Pacifico Stock Performance

Grupo Aeroportuario Del Pacifico stock traded down $1.95 during trading hours on Friday, reaching $224.91. 80,001 shares of the stock were exchanged, compared to its average volume of 123,251. Grupo Aeroportuario Del Pacifico has a 52-week low of $168.62 and a 52-week high of $300.41. The stock has a market cap of $11.36 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.01 and a current ratio of 0.91. The firm's 50 day moving average is $268.83 and its 200 day moving average is $248.53.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last issued its earnings results on Tuesday, February 24th. The transportation company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($1.11). The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $613.30 million. Grupo Aeroportuario Del Pacifico had a net margin of 24.06% and a return on equity of 41.85%. Analysts predict that Grupo Aeroportuario Del Pacifico will post 10 EPS for the current fiscal year.

About Grupo Aeroportuario Del Pacifico

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a leading airport operator in Mexico. Established in 1998 as part of the federal government’s airport privatization program, GAP holds long‐term concession agreements—typically 50 years—to manage, develop and operate airports under a public–private partnership model. Through these concessions, the company undertakes terminal expansions, runway maintenance and the modernization of navigation and security systems.

The company’s portfolio comprises 12 airports across Mexico’s Pacific and western regions, including major hubs such as Guadalajara, Tijuana, Los Cabos, Puerto Vallarta and Mazatlán, as well as regional facilities in Aguascalientes, Morelia and La Paz.

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.