Raymond James Financial Inc. Takes Position in Azul S.A. (NYSE:AZUL)

Raymond James Financial Inc. bought a new stake in Azul S.A. (NYSE:AZUL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,998 shares of the company’s stock, valued at approximately $117,000.

Several other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new position in Azul in the 4th quarter worth about $42,000. Perpetual Ltd boosted its stake in shares of Azul by 5.1% in the 4th quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after buying an additional 119,023 shares during the last quarter. Inspire Advisors LLC lifted its position in Azul by 16.6% during the fourth quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock valued at $80,000 after purchasing an additional 6,844 shares in the last quarter. Trellis Wealth Advisors LLC purchased a new position in Azul during the fourth quarter valued at $32,000. Finally, Virtu Financial LLC purchased a new position in shares of Azul in the fourth quarter valued at about $220,000. 0.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on AZUL. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Raymond James cut their target price on Azul from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group dropped their price objective on Azul from $2.70 to $2.40 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.67.

Azul Trading Up 9.6%

Shares of NYSE AZUL opened at $0.71 on Wednesday. Azul S.A. has a 12-month low of $0.48 and a 12-month high of $6.64. The company has a market cap of $297.21 million, a P/E ratio of -0.10 and a beta of 1.88. The stock has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.92.

Azul Profile

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.