Longitude Cayman Ltd. Makes New Investment in Embraer S.A. (NYSE:ERJ)

Longitude Cayman Ltd. bought a new stake in shares of Embraer S.A. (NYSE:ERJ) in the third quarter, Holdings Channel.com reports. The fund bought 10,000 shares of the aerospace company’s stock, valued at approximately $354,000.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. raised its holdings in shares of Embraer by 308.5% in the first quarter. Sei Investments Co. now owns 47,573 shares of the aerospace company’s stock valued at $1,268,000 after acquiring an additional 35,928 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Embraer by 59,594.3% during the first quarter. Russell Investments Group Ltd. now owns 51,934 shares of the aerospace company’s stock valued at $1,384,000 after buying an additional 51,847 shares during the period. Orion Portfolio Solutions LLC raised its stake in Embraer by 2.6% in the first quarter. Orion Portfolio Solutions LLC now owns 44,535 shares of the aerospace company’s stock worth $1,186,000 after buying an additional 1,139 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Embraer by 54.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 46,531 shares of the aerospace company’s stock worth $1,240,000 after buying an additional 16,469 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of Embraer in the 1st quarter valued at $268,000. 34.65% of the stock is currently owned by institutional investors.

Embraer Price Performance

Shares of ERJ stock opened at $37.92 on Monday. Embraer S.A. has a fifty-two week low of $16.01 and a fifty-two week high of $39.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.66. The stock’s 50-day simple moving average is $35.05 and its 200-day simple moving average is $31.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ERJ. TD Cowen raised Embraer from a “hold” rating to a “buy” rating and raised their price objective for the company from $26.00 to $41.00 in a research report on Wednesday, September 4th. StockNews.com cut shares of Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Bank of America reaffirmed a “buy” rating and set a $40.00 price target on shares of Embraer in a research report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Embraer has a consensus rating of “Moderate Buy” and a consensus price target of $34.86.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.