Raymond James Financial Services Advisors Inc. Sells 4,145 Shares of Azul S.A. (NYSE:AZUL)

Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Azul S.A. (NYSE:AZUL) by 16.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,800 shares of the company’s stock after selling 4,145 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Azul were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AZUL. Schonfeld Strategic Advisors LLC acquired a new position in shares of Azul in the 3rd quarter valued at $4,999,000. Canada Pension Plan Investment Board acquired a new position in shares of Azul in the 3rd quarter valued at $4,712,000. Landscape Capital Management L.L.C. grew its holdings in shares of Azul by 151.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 146,654 shares of the company’s stock valued at $1,260,000 after buying an additional 88,286 shares during the period. Van ECK Associates Corp boosted its stake in Azul by 4.1% in the 3rd quarter. Van ECK Associates Corp now owns 76,731 shares of the company’s stock worth $659,000 after purchasing an additional 3,005 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new position in Azul in the 3rd quarter worth $341,000. Institutional investors own 0.82% of the company’s stock.

Azul Price Performance

Azul stock opened at $5.60 on Thursday. The firm has a 50-day moving average of $7.40 and a 200-day moving average of $8.37. Azul S.A. has a one year low of $5.57 and a one year high of $13.86. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -6.02 and a beta of 1.85.

Azul (NYSE:AZUL) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.25). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts expect that Azul S.A. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

AZUL has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, April 1st. Raymond James reaffirmed an “outperform” rating and issued a $12.00 target price (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 from $18.00) on shares of Azul in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.26.

Azul Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.