Madison Air Solutions’ (NYSE:MAIR – Get Free Report) lock-up period will expire on Tuesday, October 13th. Madison Air Solutions had issued 82,692,308 shares in its IPO on April 16th. The total size of the offering was $2,232,692,316 based on an initial share price of $27.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
Analysts Set New Price Targets
MAIR has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price objective on Madison Air Solutions from $47.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Stifel Nicolaus reduced their target price on Madison Air Solutions from $49.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Zacks Research lowered Madison Air Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Wells Fargo & Company decreased their price target on Madison Air Solutions from $46.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings cut Madison Air Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madison Air Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.
View Our Latest Stock Report on Madison Air Solutions
Madison Air Solutions Stock Performance
Madison Air Solutions (NYSE:MAIR – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $991.30 million for the quarter. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. Sell-side analysts predict that Madison Air Solutions will post 1.06 EPS for the current year.
Insider Activity at Madison Air Solutions
In other news, Director Hudson La Force, III acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $27.84 per share, for a total transaction of $556,800.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in shares of Madison Air Solutions in the 2nd quarter worth about $251,481,000. Alyeska Investment Group L.P. acquired a new position in shares of Madison Air Solutions in the 2nd quarter valued at about $67,411,000. BlueCrest Capital Management Ltd acquired a new position in shares of Madison Air Solutions in the 2nd quarter valued at about $23,790,000. State Street Corp acquired a new position in shares of Madison Air Solutions in the 2nd quarter valued at about $16,558,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Madison Air Solutions during the 2nd quarter worth about $16,029,000.
About Madison Air Solutions
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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