Candelo Capital Management LP Purchases Shares of 24,200 FTAI Aviation Ltd. $FTAI

Key Points

• Candelo Capital Management LP purchased 24,200 shares of FTAI in Q3—about $4.04 million—making the stake 3.5% of its portfolio and its 16th-largest holding.
• Major institutions (including Ensign Peak, Capital World, DZ Bank and Norges Bank) significantly increased or initiated positions, leaving 88.96% of FTAI owned by hedge funds and other institutional investors.
• FTAI shares slipped about 6.3% after a quarter where EPS missed ($1.08 vs. $1.22) despite 32.7% revenue growth; the company announced a $0.40 quarterly dividend and analysts have a "Moderate Buy" consensus with an average target of $292.78.

Candelo Capital Management LP purchased a new stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,200 shares of the financial services provider's stock, valued at approximately $4,038,000. FTAI Aviation comprises 3.5% of Candelo Capital Management LP's investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also modified their holdings of the business. Ensign Peak Advisors Inc raised its position in shares of FTAI Aviation by 67.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,075,788 shares of the financial services provider's stock worth $353,839,000 after purchasing an additional 1,238,294 shares during the last quarter. Norges Bank acquired a new stake in FTAI Aviation during the 2nd quarter valued at $142,012,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in FTAI Aviation by 1,678.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,140,542 shares of the financial services provider's stock valued at $131,208,000 after buying an additional 1,076,416 shares during the last quarter. Capital World Investors increased its position in FTAI Aviation by 17.3% during the third quarter. Capital World Investors now owns 6,320,565 shares of the financial services provider's stock worth $1,054,649,000 after buying an additional 933,944 shares in the last quarter. Finally, Northern Right Capital Management L.P. increased its position in FTAI Aviation by 884.1% during the second quarter. Northern Right Capital Management L.P. now owns 885,675 shares of the financial services provider's stock worth $101,888,000 after buying an additional 795,675 shares in the last quarter. 88.96% of the stock is owned by hedge funds and other institutional investors.

FTAI Aviation Trading Down 6.3%

Shares of FTAI opened at $222.24 on Friday. FTAI Aviation Ltd. has a fifty-two week low of $81.45 and a fifty-two week high of $323.51. The company has a market capitalization of $22.80 billion, a PE ratio of 48.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.50. The stock has a fifty day moving average of $272.50 and a two-hundred day moving average of $205.80. The company has a debt-to-equity ratio of 10.32, a quick ratio of 2.30 and a current ratio of 5.28.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $662.03 million for the quarter, compared to analyst estimates of $710.37 million. FTAI Aviation had a return on equity of 257.07% and a net margin of 19.98%.FTAI Aviation's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, analysts forecast that FTAI Aviation Ltd. will post 2.2 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 13th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.7%. FTAI Aviation's dividend payout ratio is 30.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTAI. Jefferies Financial Group restated a "buy" rating and issued a $350.00 price objective on shares of FTAI Aviation in a research report on Monday, February 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of FTAI Aviation in a research report on Monday, December 29th. Zacks Research raised shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a research note on Friday, January 9th. Wolfe Research restated an "outperform" rating and issued a $225.00 target price on shares of FTAI Aviation in a report on Wednesday, December 31st. Finally, BTIG Research raised their price target on shares of FTAI Aviation from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $292.78.

FTAI Aviation Profile

FTAI Aviation NASDAQ: FTAI is a commercial aircraft leasing company that acquires, manages and leases wide-body jet aircraft to airlines globally. The company's portfolio is focused on modern, fuel-efficient Boeing models, including the 767, 777 and 787 families, which are deployed under long-term operating leases. By concentrating on in-demand wide-body assets, FTAI Aviation seeks to deliver stable cash flows through lease rentals and maintenance reserve collections while providing airlines with flexible fleet solutions.

In addition to lease origination, FTAI Aviation offers end-to-end asset management services.

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