Azul (NYSE:AZUL) Trading Down 2.7%

Azul S.A. (NYSE:AZUL)’s share price fell 2.7% on Thursday . The company traded as low as $8.29 and last traded at $8.30. 949,696 shares changed hands during trading, a decline of 24% from the average session volume of 1,254,764 shares. The stock had previously closed at $8.53.

Azul Stock Performance

The business has a 50-day simple moving average of $7.77 and a two-hundred day simple moving average of $8.54. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -5.89 and a beta of 1.85.

Hedge Funds Weigh In On Azul

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors raised its stake in shares of Azul by 3.0% during the 1st quarter. Capital Research Global Investors now owns 13,032,134 shares of the company’s stock worth $196,134,000 after buying an additional 374,935 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Azul by 63.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 7,172,894 shares of the company’s stock worth $98,197,000 after buying an additional 2,787,899 shares in the last quarter. Perpetual Ltd raised its stake in shares of Azul by 3.9% during the 3rd quarter. Perpetual Ltd now owns 3,014,802 shares of the company’s stock worth $25,897,000 after buying an additional 113,417 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Azul by 551.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company’s stock worth $14,296,000 after buying an additional 1,980,852 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Azul by 293.1% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company’s stock worth $7,441,000 after buying an additional 775,936 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Company 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.