Amundi Purchases Shares of 164,253 Madison Air Solutions Corporation $MAIR

Key Points

• Amundi acquired 164,253 shares of Madison Air Solutions in the second quarter, valued at approximately $6.4 million. Other institutional investors, including Alyeska Investment Group, also established significant new positions.
• Director Hudson La Force III purchased 20,000 shares at $27.84 each, increasing his ownership by nearly 120%.
• Madison Air Solutions exceeded quarterly earnings expectations, reporting $0.31 EPS versus the $0.24 consensus and 20.9% year-over-year revenue growth. Despite analyst price-target cuts, the stock retains a “Moderate Buy” consensus rating with an average target of $44.

Amundi acquired a new position in shares of Madison Air Solutions Corporation (NYSE:MAIR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 164,253 shares of the company's stock, valued at approximately $6,406,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Madison Air Solutions during the 2nd quarter valued at $1,659,000. Madison Asset Management LLC purchased a new stake in shares of Madison Air Solutions in the second quarter valued at about $3,215,000. Readystate Asset Management LP bought a new position in shares of Madison Air Solutions during the second quarter valued at about $16,029,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Madison Air Solutions during the second quarter valued at about $67,411,000.

Insiders Place Their Bets

In other news, Director Hudson La Force, III acquired 20,000 shares of Madison Air Solutions stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $27.84 per share, with a total value of $556,800.00. Following the completion of the acquisition, the director owned 36,713 shares in the company, valued at approximately $1,022,089.92. This trade represents a 119.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Madison Air Solutions Stock Up 1.4%

MAIR opened at $25.25 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $12.67 billion and a PE ratio of 0.00. Madison Air Solutions Corporation has a twelve month low of $24.34 and a twelve month high of $44.50. The company has a 50-day moving average of $30.54.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share for the quarter, beating 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, sell-side analysts anticipate that Madison Air Solutions Corporation will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

MAIR has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Madison Air Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 31st. Royal Bank Of Canada dropped their target price 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. Stifel Nicolaus dropped their target price on shares of 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. Wall Street Zen upgraded Madison Air Solutions to a "hold" rating in a research note on Sunday, July 12th. Finally, Wells Fargo & Company reduced their target price on Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Madison Air Solutions presently has an average rating of "Moderate Buy" and an average target price of $44.00.

Madison Air Solutions 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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