Investors Buy Large Volume of Put Options on Azul (NYSE:AZUL)

Azul S.A. (NYSE:AZULGet Free Report) saw unusually large options trading activity on Wednesday. Stock traders bought 3,530 put options on the company. This represents an increase of 345% compared to the typical daily volume of 794 put options.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. increased its position in shares of Azul by 10.4% in the first quarter. U S Global Investors Inc. now owns 874,798 shares of the company’s stock worth $6,797,000 after acquiring an additional 82,077 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Azul in the third quarter worth approximately $4,999,000. Canada Pension Plan Investment Board purchased a new position in shares of Azul in the third quarter worth approximately $4,712,000. Van ECK Associates Corp increased its position in shares of Azul by 4.1% in the third quarter. Van ECK Associates Corp now owns 76,731 shares of the company’s stock worth $659,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Azul by 46.4% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 68,004 shares of the company’s stock worth $659,000 after acquiring an additional 21,549 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Price Performance

Shares of AZUL opened at $5.32 on Thursday. The firm’s 50 day moving average is $6.37 and its 200-day moving average is $7.86. The stock has a market capitalization of $2.24 billion, a P/E ratio of -2.18 and a beta of 2.05. Azul has a 12-month low of $5.15 and a 12-month high of $13.86.

Azul (NYSE:AZULGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.04). The firm had revenue of $945.00 million for the quarter, compared to the consensus estimate of $968.17 million. As a group, equities research analysts forecast that Azul will post -0.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZUL. Barclays dropped their price target on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. Morgan Stanley began coverage on shares of Azul in a research report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price target on the stock. Bank of America restated an “underperform” rating and set a $9.50 price target (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Azul in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Azul presently has an average rating of “Hold” and a consensus price target of $11.12.

Check Out Our Latest Stock Analysis on AZUL

Azul Company Profile

(Get Free Report)

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.

Further Reading

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