Ground Swell Capital LLC Buys New Stake in Azul S.A. (NYSE:AZUL)

Ground Swell Capital LLC acquired a new position in Azul S.A. (NYSE:AZUL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,689 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZUL. Coronation Fund Managers Ltd. increased its position in shares of Azul by 16.0% in the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after acquiring an additional 3,450 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Azul by 310.0% in the 1st quarter. Quantbot Technologies LP now owns 31,813 shares of the company’s stock valued at $247,000 after acquiring an additional 24,054 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of Azul by 19.4% in the first quarter. Inspire Advisors LLC now owns 18,699 shares of the company’s stock worth $145,000 after acquiring an additional 3,042 shares during the period. Signaturefd LLC lifted its position in Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after purchasing an additional 2,812 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after purchasing an additional 575,344 shares during the last quarter. 0.82% of the stock is currently owned by hedge funds and other institutional investors.

Azul Stock Down 7.2 %

Azul stock opened at $2.70 on Monday. The company has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $4.30. Azul S.A. has a 52-week low of $2.02 and a 52-week high of $11.26.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZUL. The Goldman Sachs Group cut Azul from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $6.70 to $4.00 in a report on Monday, September 23rd. Hsbc Global Res raised shares of Azul to a “hold” rating in a report on Thursday, September 5th. Seaport Res Ptn cut shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays reduced their price target on Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.59.

About Azul

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.