There was a discernible increase in the number of short positions taken on China Eastern Airlines Company Limited (NYSE: CEA) during December. Compared to the total short interest of 2,400 shares as of November 30, which stood at 2,600 shares as of December 15, the 8.3% increase in total short interest represents the number of shares that were available for borrowing. As a result, the current short-interest ratio in the market is 0.5 days, which can be calculated based on an average of 5,500 shares traded daily.
Recently, a number of hedge funds and other types of institutional investors have been buying and selling company shares. Other types of institutional investors have also been involved in this activity. Veriti Management LLC increased its ownership of China Eastern Airlines to 100 percent during the third quarter by purchasing an additional 18.7 percent of the airline’s shares. Veriti Management LLC currently possesses 39,684 shares of the transportation company’s stock, which have a combined value of $657,000. This represents an increase of 6,241 additional shares purchased during the period in question. During the second quarter, Jane Street Group LLC spent approximately 749 thousand dollars to acquire a further investment in China Eastern Airlines. Veriti Management LLC increased its ownership of China Eastern Airlines to 100 percent at the end of the third quarter by purchasing an additional 18.7 percent of the company. Veriti Management LLC currently possesses 39,684 shares of the transportation company’s stock, which have a combined value of $657,000. This represents an increase of 6,241 additional shares purchased during the period in question. During the second quarter, Jane Street Group LLC spent approximately $749,000 to acquire an additional investment in China Eastern Airlines. During the second quarter, Quadrant Capital Group LLC saw a rise of 136.4% in the amount of China Eastern Airlines stock it owned, making it the company’s largest single stock holding. Because Quadrant Capital Group LLC was able to purchase an additional 941 shares of the transportation company’s stock during the relevant period, the value of the company’s holdings in the stock of the transportation company has increased to $31,000. China Eastern Airlines received an additional investment of approximately $47,000 from Credit Suisse AG during the second quarter, bringing the bank’s total investment in the company to a higher level. During the second quarter, Cerity Partners LLC increased its holdings in China Eastern Airlines by purchasing additional shares for approximately $524 000, thereby increasing the company’s total number of shares. A total of institutional investors and investors from hedge funds own 0.06% of the company’s shares at this time.
Separately, a research report on China Eastern Airlines was covered for the first time by StockNews.com on Wednesday, October 12, when the website published the research report. They recommended “selling” the stock to prospective buyers. The company currently holds four negative sell ratings, one neutral hold rating, two positive buy recommendations, and one negative sell rating. Analysts have recommended selling the company. According to data sourced from Bloomberg, the stock is currently recommended to “hold” by most market analysts.
On Tuesday, NYSE: CEA shares began trading at $20.18 each when the market opened. The previous year, China Eastern Airlines offered fares as low as $15.54 and as high as $22.92 lowest and highest fares, respectively. The debt-to-equity ratio is 2.46, the current ratio is 0.31, and the quick ratio is 0.30. All of these figures are presented in ratio form. In addition, the stock’s moving average over the past 50 days is $18.99, while the moving average over the past 200 days is $18.14.
China Eastern Airlines (NYSE: CEA) provided an update on its operations on October 31, the same day that it released the results of its third quarter. The announcement was made during a conference call. The transportation company reported a loss of $3.68 per share for the period under consideration. The return on equity and net margin were negative for China Eastern Airlines. The company’s return on equity was even negative. The return on equity was also negative, coming in at -77.07%, with the net margin at -63.42%. The sum of $2.41 billion was recorded as the company’s total revenue during the period in question. China Eastern Airlines is expected to report a loss of -11.22 cents per share for the current fiscal year, as stated by the projections of market analysts.
Businesses involved in the aviation industry China Eastern Airlines Corporation Limited and its subsidiaries and affiliates provide service to the People’s Republic of China, Hong Kong, Macau, and Taiwan, as well as other countries. The company is responsible for a comprehensive range of services, such as ground transportation, tour operations, air catering, and delivering passengers, freight, and mail to their respective locations.
Short interest in China Eastern Airlines Co. Limited (NYSE:CEA) increased by 8.3% in December.
