BlueCrest Capital Management Ltd Takes $23.79 Million Position in Madison Air Solutions Corporation $MAIR

Key Points

• BlueCrest Capital Management acquired 610,000 Madison Air Solutions shares worth approximately $23.79 million, representing about 0.12% of the company and 0.8% of the fund’s portfolio. Several other hedge funds also initiated positions during the second quarter.
• Madison Air Solutions reported quarterly earnings of $0.31 per share, beating consensus estimates of $0.24, while revenue rose 20.9% year over year to $991.3 million.
• Analysts maintain a consensus “Moderate Buy” rating with a $44 price target, although several firms recently lowered their targets. The stock opened at $25.21, near its 52-week low of $24.75.

BlueCrest Capital Management Ltd bought a new stake in shares of Madison Air Solutions Corporation (NYSE:MAIR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 610,000 shares of the company's stock, valued at approximately $23,790,000. Madison Air Solutions makes up approximately 0.8% of BlueCrest Capital Management Ltd's holdings, making the stock its 19th biggest position. BlueCrest Capital Management Ltd owned approximately 0.12% of Madison Air Solutions at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in Madison Air Solutions during the second quarter valued at about $94,000. Engineers Gate Manager LP purchased a new stake in shares of Madison Air Solutions during the second quarter worth about $1,503,000. Bank of New York Mellon Corp purchased a new stake in shares of Madison Air Solutions during the second quarter worth about $1,659,000. Squarepoint Ops LLC bought a new stake in Madison Air Solutions during the 2nd quarter valued at approximately $3,118,000. Finally, Madison Asset Management LLC purchased a new position in Madison Air Solutions in the 2nd quarter worth approximately $3,215,000.

Madison Air Solutions Price Performance

Shares of MAIR opened at $25.21 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. The stock has a market cap of $12.65 billion and a PE ratio of 0.00. Madison Air Solutions Corporation has a 1 year low of $24.75 and a 1 year high of $44.50. The business's 50 day moving average price is $31.03.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last posted 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 business had revenue of $991.30 million during the quarter. During the same period in the previous year, the business posted $0.24 earnings per share. The business's quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts expect that Madison Air Solutions Corporation will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Madison Air Solutions to a "hold" rating in a research note on Sunday, July 12th. Stifel Nicolaus reduced their price objective 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. Weiss Ratings lowered 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 cut their target price on shares of 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. Finally, Wells Fargo & Company reduced their price target on shares of 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 equities 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.00.

Insider Buying and Selling

In other Madison Air Solutions news, Director Hudson La Force, III acquired 20,000 shares of the company's 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 purchase, the director directly owned 36,713 shares of the company's stock, valued at approximately $1,022,089.92. This represents a 119.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Madison Air Solutions Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.