Readystate Asset Management LP bought a new stake in Madison Air Solutions Corporation (NYSE:MAIR – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 411,000 shares of the company’s stock, valued at approximately $16,029,000.
Several other institutional investors also recently bought and sold shares of MAIR. Alyeska Investment Group L.P. bought a new position in Madison Air Solutions during the 2nd quarter worth approximately $67,411,000. Madison Asset Management LLC bought a new stake in Madison Air Solutions in the second quarter valued at approximately $3,215,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Madison Air Solutions during the second quarter valued at approximately $1,659,000.
Analyst Ratings Changes
Several brokerages recently commented on MAIR. Citigroup assumed coverage on shares of Madison Air Solutions in a research note on Monday, May 11th. They issued a “buy” rating and a $49.00 target price on the stock. Robert W. Baird started coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They set an “outperform” rating and a $48.00 price target for the company. Bank of America began coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They issued a “buy” rating and a $47.00 price target on the stock. Royal Bank Of Canada decreased 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 report on Friday, July 31st. Finally, William Blair started coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.
Madison Air Solutions Stock Up 0.2%
Shares of MAIR stock opened at $25.96 on Monday. The stock has a market capitalization of $13.02 billion and a price-to-earnings ratio of 0.00. The business has a fifty day simple moving average of $31.77. Madison Air Solutions Corporation has a 52 week low of $24.75 and a 52 week high of $44.50. 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 (NYSE:MAIR – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The company had revenue of $991.30 million during the quarter. During the same period in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Madison Air Solutions Corporation will post 1.11 earnings per share for the current year.
Insider Transactions at Madison Air Solutions
In related news, Director Hudson La Force, III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $27.84 per share, with a total value of $556,800.00. Following the completion of the purchase, the director directly owned 36,713 shares in the company, valued at approximately $1,022,089.92. This represents a 119.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Madison Air Solutions Company Profile
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.
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