Zacks Investment Research Lowers Afya (NASDAQ:AFYA) to Strong Sell

Afya (NASDAQ:AFYA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Afya Limited is a medical education group primarily in Brazil. Afya Limited is based in NEW YORK. “

A number of other equities analysts also recently commented on AFYA. TheStreet raised shares of Afya from a “d+” rating to a “c-” rating in a research note on Monday, June 14th. Morgan Stanley cut shares of Afya from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $32.00 to $28.50 in a research note on Wednesday, July 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Afya presently has a consensus rating of “Hold” and an average target price of $30.17.

Shares of AFYA traded down $1.39 during midday trading on Tuesday, hitting $18.68. 6,469 shares of the company traded hands, compared to its average volume of 185,386. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.57 and a current ratio of 2.59. Afya has a 52 week low of $18.48 and a 52 week high of $29.01. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 0.94 and a beta of 1.31. The firm has a 50 day moving average of $22.15 and a 200-day moving average of $22.88.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY lifted its stake in Afya by 3.7% in the 2nd quarter. Bamco Inc. NY now owns 3,698,540 shares of the company’s stock worth $95,348,000 after purchasing an additional 131,313 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Afya by 4.3% during the second quarter. Artisan Partners Limited Partnership now owns 1,902,255 shares of the company’s stock worth $49,040,000 after buying an additional 78,869 shares during the period. Oaktree Capital Management LP raised its stake in Afya by 1.5% during the first quarter. Oaktree Capital Management LP now owns 1,806,282 shares of the company’s stock worth $33,579,000 after purchasing an additional 26,242 shares during the period. Credit Suisse AG grew its holdings in Afya by 12.5% during the 1st quarter. Credit Suisse AG now owns 1,497,626 shares of the company’s stock worth $27,841,000 after acquiring an additional 166,816 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Afya by 0.7% in the 2nd quarter. BlackRock Inc. now owns 948,330 shares of the company’s stock worth $24,448,000 after purchasing an additional 6,390 shares in the last quarter. 28.34% of the stock is owned by institutional investors and hedge funds.

About Afya

Afya Ltd. is a medical education group, which engages in the provision of an end-to-end physician-centric ecosystem that serves and empowers students to be lifelong medical learners through their medical residency preparation, post-graduate programs, and continuing medical education activities. It operates through Education Services; and Digital Content, Residency Preparatory and Specialization Programs segments.

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