Van ECK Associates Corp Sells 8,417 Shares of Azul S.A. (NYSE:AZUL)

Van ECK Associates Corp cut its position in shares of Azul S.A. (NYSE:AZUL) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,439 shares of the company’s stock after selling 8,417 shares during the period. Van ECK Associates Corp’s holdings in Azul were worth $187,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AZUL. Creative Planning acquired a new position in shares of Azul during the 3rd quarter worth about $35,000. Signaturefd LLC increased its stake in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after purchasing an additional 2,812 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Azul during the 2nd quarter worth about $51,000. Inspire Advisors LLC increased its stake in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in shares of Azul by 9.5% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after purchasing an additional 2,380 shares during the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. HSBC lowered shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. The Goldman Sachs Group lowered shares of Azul from a “buy” rating to a “neutral” rating and decreased their price target for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Barclays decreased their price target on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Azul currently has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Trading Down 1.1 %

Shares of Azul stock opened at $2.69 on Thursday. The company has a market cap of $1.13 billion, a PE ratio of -0.28 and a beta of 1.99. The company has a 50 day moving average of $2.94 and a 200-day moving average of $4.13. Azul S.A. has a 1-year low of $2.02 and a 1-year high of $11.26.

Azul (NYSE:AZUL) last issued its quarterly earnings data on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The company had revenue of $800.65 million for the quarter, compared to analyst estimates of $791.43 million. During the same period last year, the firm posted ($0.81) earnings per share. Research analysts forecast that Azul S.A. will post -1.75 earnings per share for the current year.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.