DNB Asset Management AS Decreases Position in Azul SA (AZUL)

DNB Asset Management AS lowered its stake in Azul SA (NYSE:AZUL) by 13.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 24,000 shares of the company’s stock after selling 3,600 shares during the period. DNB Asset Management AS’s holdings in Azul were worth $427,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Allied Advisory Services Inc. grew its stake in Azul by 19.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 32,155 shares of the company’s stock valued at $525,000 after buying an additional 5,205 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Azul by 242.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,900 shares of the company’s stock worth $146,000 after purchasing an additional 6,300 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Azul during the 1st quarter worth approximately $251,000. Brighton Jones LLC grew its position in shares of Azul by 54.0% during the 2nd quarter. Brighton Jones LLC now owns 27,634 shares of the company’s stock worth $452,000 after purchasing an additional 9,686 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Azul during the 2nd quarter worth approximately $244,000. Institutional investors and hedge funds own 6.77% of the company’s stock.

AZUL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Azul from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Goldman Sachs Group initiated coverage on shares of Azul in a research report on Monday, July 16th. They set a “buy” rating and a $33.40 target price on the stock. Finally, ValuEngine upgraded shares of Azul from a “sell” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.44.

Shares of NYSE:AZUL opened at $22.34 on Friday. Azul SA has a 12-month low of $15.53 and a 12-month high of $35.05. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 14.70 and a beta of 0.69. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.15.

Azul (NYSE:AZUL) last announced its earnings results on Thursday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. Azul had a net margin of 8.24% and a return on equity of 24.66%. The firm had revenue of $562.39 million for the quarter, compared to analyst estimates of $585.84 million. Equities analysts expect that Azul SA will post 1.12 earnings per share for the current fiscal year.

Azul 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.

Further Reading: Retained Earnings

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Institutional Ownership by Quarter for Azul (NYSE:AZUL)

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