Freestone Grove Partners LP Takes $3.71 Million Position in StandardAero, Inc. (NYSE:SARO)

Freestone Grove Partners LP acquired a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $3,714,000.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of StandardAero in the 4th quarter worth $39,000. Jennison Associates LLC acquired a new stake in shares of StandardAero during the 4th quarter worth about $23,063,000. Renaissance Capital LLC purchased a new stake in StandardAero in the 4th quarter worth approximately $3,992,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in StandardAero in the 4th quarter worth about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in StandardAero in the fourth quarter valued at approximately $224,000.

Insider Activity at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $27.16, for a total value of $180,066,291.44. Following the transaction, the insider now directly owns 40,817,224 shares in the company, valued at $1,108,595,803.84. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

StandardAero Price Performance

SARO traded up $0.87 during trading on Thursday, reaching $27.99. 267,022 shares of the stock traded hands, compared to its average volume of 2,139,695. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The stock's 50-day simple moving average is $26.57 and its two-hundred day simple moving average is $26.89.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.20). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. The company's quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SARO has been the topic of several research reports. Morgan Stanley cut their price objective on StandardAero from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. UBS Group lifted their price target on StandardAero from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.89.

About StandardAero

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.