Perpetual Ltd Sells 44,861 Shares of Azul S.A. (NYSE:AZUL)

Perpetual Ltd trimmed its holdings in shares of Azul S.A. (NYSE:AZUL) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,650,670 shares of the company’s stock after selling 44,861 shares during the quarter. Perpetual Ltd owned 0.63% of Azul worth $20,596,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AZUL. Aigen Investment Management LP acquired a new stake in shares of Azul during the fourth quarter worth $214,000. AXQ Capital LP bought a new stake in shares of Azul in the third quarter valued at about $205,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Azul by 46.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after buying an additional 21,549 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Azul during the third quarter worth about $4,999,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

Azul Stock Performance

Azul stock opened at $4.28 on Friday. The stock has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $7.43. The stock has a market capitalization of $1.80 billion, a P/E ratio of -1.75 and a beta of 2.05. Azul S.A. has a 52 week low of $4.25 and a 52 week high of $13.86.

Azul (NYSE:AZUL) last posted its earnings results on Monday, May 13th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.04). The company had revenue of $945.00 million during the quarter, compared to analyst estimates of $968.17 million. Research analysts forecast that Azul S.A. will post -0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AZUL shares. Barclays decreased their price target on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Morgan Stanley began coverage on shares of Azul in a research note on Friday, May 24th. They issued an “equal weight” rating and a $7.40 price target on the stock. Raymond James restated an “outperform” rating and set a $12.00 price objective (down from $13.00) on shares of Azul in a research note on Monday, April 15th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $9.50 target price (down previously from $18.00) on shares of Azul in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Azul has a consensus rating of “Hold” and an average price target of $11.12.

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.