Azul SA (AZUL) Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Azul SA (NYSE:AZUL) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,278,126 shares of the company’s stock after selling 427,211 shares during the quarter. Victory Capital Management Inc.’s holdings in Azul were worth $66,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Azul by 148.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,036,269 shares of the company’s stock worth $18,440,000 after acquiring an additional 618,544 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Azul in the third quarter worth approximately $30,260,000. Morgan Stanley increased its position in shares of Azul by 67.9% in the third quarter. Morgan Stanley now owns 170,081 shares of the company’s stock worth $3,026,000 after acquiring an additional 68,790 shares in the last quarter. Deltec Asset Management LLC purchased a new position in shares of Azul in the fourth quarter worth approximately $2,786,000. Finally, SPX Equities Gestao de Recursos Ltda increased its position in shares of Azul by 820.7% in the fourth quarter. SPX Equities Gestao de Recursos Ltda now owns 734,795 shares of the company’s stock worth $20,346,000 after acquiring an additional 654,984 shares in the last quarter. 7.06% of the stock is owned by institutional investors.

Shares of Azul stock traded down $1.63 during trading on Monday, hitting $27.30. The stock had a trading volume of 7,361 shares, compared to its average volume of 552,216. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.87 and a quick ratio of 0.82. The company has a market cap of $8.93 billion, a P/E ratio of 17.07 and a beta of -0.75. Azul SA has a 1 year low of $15.53 and a 1 year high of $34.09.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Azul had a net margin of 3.59% and a return on equity of 11.26%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, analysts expect that Azul SA will post 2.12 EPS for the current fiscal year.

AZUL has been the topic of several analyst reports. UBS Group downgraded shares of Azul from a “buy” rating to a “neutral” rating in a research report on Thursday, January 17th. Buckingham Research lifted their target price on shares of Azul from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Zacks Investment Research downgraded shares of Azul from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.02.

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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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