Avianca (NYSE:AVH) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Avianca (NYSE:AVH) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Avianca Holdings, S.A. owns and operates airlines. It offers passenger air transportation services and cargo air transportation services. The company provides its services in the domestic markets of Colombia, Ecuador, and Peru, as well as for international routes, such as North America, Central and South America, Europe, and the Caribbean. Avianca Holdings, S.A. is based in Panama. “

Avianca stock traded up $0.08 during midday trading on Wednesday, hitting $4.62. The stock had a trading volume of 11,801 shares, compared to its average volume of 77,897. The firm’s fifty day moving average is $4.39 and its two-hundred day moving average is $3.93. The company has a market capitalization of $369.22 million, a PE ratio of 5.10 and a beta of 1.08. Avianca has a 52-week low of $2.55 and a 52-week high of $5.10.

Avianca (NYSE:AVH) last released its earnings results on Thursday, November 14th. The transportation company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.50). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Avianca had a negative return on equity of 110.89% and a negative net margin of 10.71%. On average, equities research analysts anticipate that Avianca will post -0.17 EPS for the current year.

In related news, insider Perry Michael purchased 36,111,110 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $0.64 per share, for a total transaction of $22,930,554.85.

A number of institutional investors and hedge funds have recently modified their holdings of AVH. Citadel Advisors LLC lifted its stake in shares of Avianca by 1,381.7% in the second quarter. Citadel Advisors LLC now owns 254,177 shares of the transportation company’s stock worth $986,000 after acquiring an additional 237,023 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Avianca by 8.6% in the second quarter. Renaissance Technologies LLC now owns 1,612,667 shares of the transportation company’s stock valued at $6,257,000 after acquiring an additional 127,857 shares during the period. Russell Investments Group Ltd. increased its position in shares of Avianca by 40.6% in the second quarter. Russell Investments Group Ltd. now owns 182,752 shares of the transportation company’s stock valued at $693,000 after buying an additional 52,731 shares in the last quarter. Finally, Wolverine Trading LLC purchased a new stake in shares of Avianca in the second quarter valued at approximately $51,000. Institutional investors own 4.08% of the company’s stock.

About Avianca

Avianca Holdings SA, through its subsidiaries, provides passenger and cargo air transportation services in North America, Central America, the Caribbean, Colombia, Europe, South America, and internationally. It also offers aircraft maintenance, crew training, and other airport services to other carriers, as well as travel and cargo related services to its customers.

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