Broad Bay Capital Management LP Makes New Investment in StandardAero, Inc. (NYSE:SARO)

Broad Bay Capital Management LP acquired a new stake in StandardAero, Inc. (NYSE:SARO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 92,800 shares of the company's stock, valued at approximately $2,298,000. StandardAero accounts for 0.3% of Broad Bay Capital Management LP's portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of StandardAero in the fourth quarter valued at $39,000. Jennison Associates LLC acquired a new position in shares of StandardAero in the 4th quarter valued at $23,063,000. Renaissance Capital LLC acquired a new position in shares of StandardAero in the 4th quarter valued at $3,992,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of StandardAero during the 4th quarter worth about $486,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of StandardAero during the 4th quarter valued at about $224,000.

StandardAero Stock Performance

Shares of NYSE:SARO traded up $0.74 during midday trading on Thursday, reaching $27.86. The company's stock had a trading volume of 1,155,126 shares, compared to its average volume of 2,144,917. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38. The business's fifty day simple moving average is $26.59 and its 200-day simple moving average is $26.86.

StandardAero (NYSE:SARO - Get Free Report) last released its earnings results on Monday, March 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.20). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. The firm's revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other StandardAero news, major shareholder Private Ltd Gic sold 6,629,834 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $27.16, for a total transaction of $180,066,291.44. Following the completion of the sale, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. The trade was a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley cut their price target on shares of StandardAero from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday, March 14th. UBS Group boosted their price target on StandardAero from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.