Grupo Aeromexico (NYSE:AERO) Shares Gap Down – Here’s Why

Grupo Aeromexico (NYSE:AERO) gapped down prior to trading on Monday . The stock had previously closed at $21.04, but opened at $20.30. Grupo Aeromexico shares last traded at $20.40, with a volume of 100,136 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AERO shares. Itau BBA Securities began coverage on Grupo Aeromexico in a research report on Sunday, November 30th. They set an “outperform” rating on the stock. Zacks Research raised Grupo Aeromexico to a “hold” rating in a report on Thursday, December 18th. Barclays raised their price target on Grupo Aeromexico from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen raised shares of Grupo Aeromexico from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group started coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $35.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Grupo Aeromexico presently has an average rating of “Moderate Buy” and an average price target of $30.83.

Grupo Aeromexico Price Performance

The stock has a fifty day moving average price of $20.49.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Grupo Aeromexico in the 4th quarter valued at about $301,000. Zimmer Partners LP acquired a new position in shares of Grupo Aeromexico in the fourth quarter worth approximately $23,286,000. VR Advisory Services Ltd bought a new stake in Grupo Aeromexico in the fourth quarter valued at approximately $259,000. Readystate Asset Management LP acquired a new stake in Grupo Aeromexico during the 4th quarter valued at approximately $3,009,000. Finally, Nut Tree Capital Management LP bought a new position in Grupo Aeromexico during the 4th quarter worth approximately $130,652,000.

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.