Bank of New York Mellon Corp Invests $1.66 Million in Madison Air Solutions Corporation $MAIR

Key Points

• Bank of New York Mellon acquired 42,529 shares of Madison Air Solutions during the second quarter, valued at approximately $1.66 million.
• Director Hudson La Force III purchased 20,000 shares for $556,800, increasing his direct ownership by 119.67%.
• Madison Air Solutions beat quarterly EPS estimates with $0.31 versus $0.24 expected, while revenue rose 20.9% year over year; analysts maintain a “Moderate Buy” consensus despite lowering price targets.

Bank of New York Mellon Corp acquired a new position in Madison Air Solutions Corporation (NYSE:MAIR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,529 shares of the company's stock, valued at approximately $1,659,000.

Insider Activity at Madison Air Solutions

In other Madison Air Solutions news, Director Hudson La Force, III bought 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $27.84 per share, for a total transaction of $556,800.00. Following the transaction, the director directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Madison Air Solutions Stock Up 0.8%

MAIR stock opened at $26.12 on Wednesday. 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 firm has a market capitalization of $13.11 billion and a price-to-earnings ratio of 0.00. The firm has a fifty day moving average price of $31.29. Madison Air Solutions Corporation has a 12-month low of $24.75 and a 12-month high of $44.50.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last issued 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 business had revenue of $991.30 million for the quarter. During the same period in the prior year, the firm posted $0.24 EPS. The company's revenue for the quarter was up 20.9% on a year-over-year basis. Research analysts expect that Madison Air Solutions Corporation will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

MAIR has been the topic of several recent research reports. Stifel Nicolaus cut their target price on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada decreased their price target on Madison Air Solutions from $47.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Jefferies Financial Group initiated coverage on Madison Air Solutions in a research report on Tuesday, May 12th. They set a "hold" rating and a $45.00 price objective for the company. Zacks Research lowered Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company reduced their target price on Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Two research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Madison Air Solutions has an average rating of "Moderate Buy" and an average price target 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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