Pasadena Private Wealth LLC Trims Stock Position in Azul SA (NYSE:AZUL)

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Pasadena Private Wealth LLC lessened its position in shares of Azul SA (NYSE:AZUL) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,400 shares of the company’s stock after selling 2,000 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Azul were worth $415,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in shares of Azul by 102,300.0% in the fourth quarter. Deutsche Bank AG now owns 102,400 shares of the company’s stock valued at $2,834,000 after acquiring an additional 102,300 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Azul by 2.2% in the first quarter. Zweig DiMenna Associates LLC now owns 1,456,219 shares of the company’s stock valued at $42,536,000 after acquiring an additional 30,693 shares in the last quarter. Quantamental Technologies LLC lifted its position in shares of Azul by 237.7% in the first quarter. Quantamental Technologies LLC now owns 1,013 shares of the company’s stock valued at $30,000 after acquiring an additional 713 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Azul in the first quarter valued at about $766,000. Finally, Picton Mahoney Asset Management lifted its position in shares of Azul by 1,131.3% in the first quarter. Picton Mahoney Asset Management now owns 98,500 shares of the company’s stock valued at $2,877,000 after acquiring an additional 90,500 shares in the last quarter. 6.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AZUL traded down $1.37 during mid-day trading on Thursday, reaching $36.18. The stock had a trading volume of 6,938 shares, compared to its average volume of 455,622. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.07. The company has a market cap of $11.75 billion, a P/E ratio of 22.76 and a beta of -0.65. Azul SA has a 1 year low of $15.60 and a 1 year high of $43.14. The business’s 50 day moving average price is $39.36 and its 200 day moving average price is $31.99.

Azul (NYSE:AZUL) last posted its earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.69. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. Azul had a return on equity of 38.51% and a net margin of 7.28%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts predict that Azul SA will post 2.2 earnings per share for the current fiscal year.

Several brokerages have recently commented on AZUL. Raymond James boosted their price objective on Azul from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Barclays set a $46.00 price objective on Azul and gave the company a “hold” rating in a research report on Monday, August 12th. Buckingham Research downgraded Azul from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $53.00 to $39.00 in a research report on Tuesday, August 13th. Deutsche Bank boosted their price objective on Azul from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine downgraded Azul from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.51.

Azul Company Profile

Azul SA provides passenger and cargo air transportation services in Brazil. As of March 31, 2018, it operated 739 daily flights to 106 destinations through a network of 206 non-stop routes with a fleet of 120 aircraft. The company was incorporated in 2008 and is headquartered in Barueri, Brazil.

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Institutional Ownership by Quarter for Azul (NYSE:AZUL)

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