Verition Fund Management LLC Sells 850,756 Shares of Embraer S.A. (NYSE:ERJ)

Verition Fund Management LLC trimmed its position in shares of Embraer S.A. (NYSE:ERJ) by 97.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,384 shares of the aerospace company’s stock after selling 850,756 shares during the quarter. Verition Fund Management LLC’s holdings in Embraer were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Channing Global Advisors LLC boosted its stake in Embraer by 52.4% during the third quarter. Channing Global Advisors LLC now owns 86,868 shares of the aerospace company’s stock worth $3,073,000 after buying an additional 29,857 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Embraer in the 3rd quarter valued at $10,611,000. Townsquare Capital LLC grew its position in Embraer by 1.2% in the third quarter. Townsquare Capital LLC now owns 26,007 shares of the aerospace company’s stock valued at $920,000 after acquiring an additional 310 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Embraer by 72.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 31,000 shares of the aerospace company’s stock worth $1,096,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Embraer by 2.9% in the third quarter. Citigroup Inc. now owns 117,605 shares of the aerospace company’s stock valued at $4,160,000 after buying an additional 3,354 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

Embraer Stock Up 0.9 %

ERJ stock opened at $37.84 on Monday. Embraer S.A. has a 1-year low of $16.88 and a 1-year high of $40.34. The business’s 50-day moving average price is $35.85 and its two-hundred day moving average price is $32.44. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen raised Embraer from a “hold” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. UBS Group downgraded shares of Embraer from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $29.00 to $32.00 in a research note on Tuesday, November 19th. Finally, Bank of America raised their price target on shares of Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.43.

About Embraer

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.