Bank of Montreal Can cut its holdings in shares of Azul SA (NYSE:AZUL) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,665 shares of the company’s stock after selling 6,906 shares during the quarter. Bank of Montreal Can’s holdings in Azul were worth $1,431,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Morgan Stanley lifted its stake in Azul by 67.9% in the third quarter. Morgan Stanley now owns 170,081 shares of the company’s stock valued at $3,026,000 after buying an additional 68,790 shares during the period. Nordea Investment Management AB acquired a new position in Azul in the third quarter valued at about $30,260,000. CI Investments Inc. acquired a new position in Azul in the third quarter valued at about $5,180,000. Macquarie Group Ltd. acquired a new position in Azul in the third quarter valued at about $1,953,000. Finally, Putnam Investments LLC lifted its stake in Azul by 27.9% in the third quarter. Putnam Investments LLC now owns 194,731 shares of the company’s stock valued at $3,465,000 after buying an additional 42,440 shares during the period. Institutional investors own 8.11% of the company’s stock.
Several research firms have weighed in on AZUL. Zacks Investment Research raised Azul from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. ValuEngine raised Azul from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Goldman Sachs Group lowered Azul from a “buy” rating to a “neutral” rating and set a $27.07 price target on the stock. in a research report on Monday, December 3rd. UBS Group lowered Azul from a “buy” rating to a “neutral” rating in a research report on Thursday, January 17th. Finally, Morgan Stanley raised Azul from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 10th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.27.
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.
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