Broad Bay Capital Management LP Decreases Position in FTAI Aviation Ltd. (NYSE:FTAI)

Broad Bay Capital Management LP trimmed its stake in shares of FTAI Aviation Ltd. (NYSE:FTAI - Free Report) by 75.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,288 shares of the financial services provider's stock after selling 585,871 shares during the period. FTAI Aviation comprises about 3.3% of Broad Bay Capital Management LP's holdings, making the stock its 9th biggest holding. Broad Bay Capital Management LP owned 0.18% of FTAI Aviation worth $26,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sara Bay Financial purchased a new position in shares of FTAI Aviation in the fourth quarter worth approximately $547,000. Ibex Wealth Advisors purchased a new position in FTAI Aviation during the 4th quarter worth approximately $3,518,000. Rhumbline Advisers raised its stake in FTAI Aviation by 2.2% during the 4th quarter. Rhumbline Advisers now owns 142,072 shares of the financial services provider's stock valued at $20,464,000 after purchasing an additional 3,121 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in shares of FTAI Aviation by 77.1% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,555 shares of the financial services provider's stock valued at $944,000 after purchasing an additional 2,853 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of FTAI Aviation by 102.8% in the third quarter. Franklin Resources Inc. now owns 411,476 shares of the financial services provider's stock worth $54,685,000 after buying an additional 208,613 shares during the period. Institutional investors and hedge funds own 88.96% of the company's stock.

FTAI Aviation Price Performance

Shares of FTAI Aviation stock traded down $2.89 during midday trading on Friday, hitting $107.12. The company had a trading volume of 1,839,431 shares, compared to its average volume of 1,770,405. FTAI Aviation Ltd. has a 1-year low of $75.06 and a 1-year high of $181.64. The business's 50 day simple moving average is $103.06 and its two-hundred day simple moving average is $125.42. The stock has a market cap of $10.99 billion, a PE ratio of -1,071.09 and a beta of 1.64.

FTAI Aviation (NYSE:FTAI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.08). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. During the same quarter last year, the business posted $0.31 EPS. The firm's quarterly revenue was up 53.7% on a year-over-year basis. On average, sell-side analysts expect that FTAI Aviation Ltd. will post 2.2 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. FTAI Aviation's payout ratio is 571.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JMP Securities reduced their price objective on FTAI Aviation from $190.00 to $180.00 and set a "market outperform" rating for the company in a research note on Thursday. Barclays lowered their price target on shares of FTAI Aviation from $180.00 to $150.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus upgraded FTAI Aviation from a "hold" rating to a "buy" rating and set a $123.00 price objective for the company in a report on Friday, May 2nd. Citigroup restated a "buy" rating on shares of FTAI Aviation in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded FTAI Aviation from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FTAI Aviation currently has an average rating of "Moderate Buy" and an average price target of $171.83.

Insider Buying and Selling

In other FTAI Aviation news, CEO Joseph P. Jr. Adams purchased 3,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $94.54 per share, for a total transaction of $283,620.00. Following the completion of the purchase, the chief executive officer now directly owns 341,852 shares in the company, valued at approximately $32,318,688.08. This trade represents a 0.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stacy Kuperus acquired 1,087 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $92.90 per share, for a total transaction of $100,982.30. Following the completion of the acquisition, the insider now directly owns 88,423 shares of the company's stock, valued at approximately $8,214,496.70. This represents a 1.24 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 10,667 shares of company stock valued at $1,008,715 over the last ninety days. 1.30% of the stock is owned by company insiders.

About FTAI Aviation

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.