Key Points
- Director Force Andrew Hudson La III purchased 20,000 MAIR shares at an average price of $27.84, investing $556,800 and increasing his ownership by 119.67% to 36,713 shares.
- Madison Air Solutions reported quarterly EPS of $0.31, beating estimates by $0.07, while revenue rose 20.9% year over year to $991.3 million.
- Analysts maintain a “Moderate Buy” consensus with a $44 average price target, although RBC recently lowered its target to $38; shares opened at $28.31 and have traded between $24.75 and $44.50 over the past year.
Madison Air Solutions Corporation (NYSE:MAIR - Get Free Report) Director Force Andrew Hudson La III acquired 20,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $27.84 per share, with a total value of $556,800.00. Following the acquisition, the director owned 36,713 shares of the company's stock, valued at approximately $1,022,089.92. This represents a 119.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Madison Air Solutions Stock Up 1.1%
Shares of NYSE:MAIR opened at $28.31 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.21. Madison Air Solutions Corporation has a twelve month low of $24.75 and a twelve month high of $44.50. The stock's 50 day moving average price is $33.51. The firm has a market capitalization of $14.20 billion and a price-to-earnings ratio of 0.00.
Madison Air Solutions (NYSE:MAIR - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The firm had revenue of $991.30 million during the quarter. During the same quarter in the prior year, the company posted $0.24 EPS. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Madison Air Solutions Corporation will post 1.11 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Madison Air Solutions
Hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new stake in shares of Madison Air Solutions in the 2nd quarter worth $67,411,000. Readystate Asset Management LP purchased a new stake in shares of Madison Air Solutions in the second quarter valued at about $16,029,000. Amundi bought a new position in shares of Madison Air Solutions during the second quarter valued at about $6,406,000. Madison Asset Management LLC bought a new position in shares of Madison Air Solutions during the second quarter valued at about $3,215,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Madison Air Solutions during the second quarter valued at about $1,659,000.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MAIR. Royal Bank Of Canada dropped their price objective on shares of Madison Air Solutions from $47.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. The Goldman Sachs Group began coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They set a "neutral" rating and a $44.00 target price for the company. Robert W. Baird started coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They issued an "outperform" rating and a $48.00 target price on the stock. William Blair started coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They issued an "outperform" rating on the stock. Finally, Vertical Research started coverage on Madison Air Solutions in a research note on Monday, May 11th. They set a "buy" rating and a $50.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Madison Air Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.
Check Out Our Latest Analysis on Madison Air Solutions
Madison Air Solutions Company Profile
(
Get Free Report)
We take up to 25,000 breaths a day and spend up to 90% of our lives indoors, often breathing air that's two to five times more polluted than outdoor air. Clean air is absolutely essential to human life, yet most people rarely think about the air we breathe at home, in our schools, in healthcare facilities and in the workplace. Poor air quality doesn't just affect comfort; it undermines health, productivity and performance. Improving air quality is a fundamental principle that is a key tenet in everything we do.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
