Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Sees Significant Growth in Short Interest

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 156,700 shares, an increase of 54.4% from the September 30th total of 101,500 shares. Based on an average daily volume of 74,300 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Grupo Aeroportuario del Pacífico

A number of institutional investors have recently made changes to their positions in PAC. Lazard Asset Management LLC boosted its holdings in Grupo Aeroportuario del Pacífico by 141.5% during the 1st quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock valued at $78,526,000 after acquiring an additional 281,966 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Grupo Aeroportuario del Pacífico in the second quarter worth approximately $13,976,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Grupo Aeroportuario del Pacífico in the first quarter worth approximately $2,676,000. Quadrature Capital Ltd purchased a new position in shares of Grupo Aeroportuario del Pacífico in the first quarter worth $1,485,000. Finally, BNP Paribas Financial Markets raised its holdings in Grupo Aeroportuario del Pacífico by 70.8% during the 1st quarter. BNP Paribas Financial Markets now owns 14,706 shares of the transportation company’s stock valued at $2,400,000 after buying an additional 6,097 shares during the last quarter. Hedge funds and other institutional investors own 11.73% of the company’s stock.

Grupo Aeroportuario del Pacífico Stock Performance

NYSE:PAC traded up $0.97 during mid-day trading on Friday, reaching $172.47. The stock had a trading volume of 122,843 shares, compared to its average volume of 59,546. Grupo Aeroportuario del Pacífico has a one year low of $107.25 and a one year high of $197.31. The firm has a 50 day moving average price of $173.27 and a two-hundred day moving average price of $170.22. The stock has a market capitalization of $8.71 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.52 and a beta of 1.46.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAC. Scotiabank cut Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $224.00 to $185.00 in a report on Wednesday, September 25th. Citigroup raised shares of Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. Bank of America upgraded shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.00.

About Grupo Aeroportuario del Pacífico

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.