Citadel Advisors LLC Makes New $251.48 Million Investment in Madison Air Solutions Corporation $MAIR

Key Points

• Citadel Advisors acquired 6.45 million shares of Madison Air Solutions, valued at approximately $251.5 million and representing a 1.29% stake. Several other institutional investors also initiated positions during the second quarter.
• Madison Air Solutions reported quarterly EPS of $0.31, beating estimates of $0.24, while revenue rose 20.9% year over year to $991.3 million.
• MAIR shares opened at $25.96, well below their 52-week high of $44.50. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $44.00, despite some recent downgrades.

Citadel Advisors LLC acquired a new position in shares of Madison Air Solutions Corporation (NYSE:MAIR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,448,221 shares of the company's stock, valued at approximately $251,481,000. Citadel Advisors LLC owned 1.29% of Madison Air Solutions at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of Madison Air Solutions in the 2nd quarter valued at $1,659,000. Madison Asset Management LLC acquired a new stake in Madison Air Solutions during the second quarter valued at $3,215,000. Amundi acquired a new stake in Madison Air Solutions during the second quarter valued at $6,406,000. Readystate Asset Management LP purchased a new position in Madison Air Solutions in the second quarter valued at $16,029,000. Finally, Alyeska Investment Group L.P. purchased a new position in Madison Air Solutions in the second quarter valued at $67,411,000.

Madison Air Solutions Stock Performance

Shares of MAIR opened at $25.96 on Monday. The stock's 50 day moving average price is $31.77. Madison Air Solutions Corporation has a one year low of $24.75 and a one year high of $44.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.21. The stock has a market capitalization of $13.02 billion and a PE ratio of 0.00.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $991.30 million during the quarter. During the same quarter in the prior year, the firm earned $0.24 EPS. The business's quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts predict that Madison Air Solutions Corporation will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Madison Air Solutions

In other Madison Air Solutions news, Director Hudson La Force, III purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $27.84 per share, with a total value of $556,800.00. Following the completion of the purchase, the director owned 36,713 shares in the company, valued at approximately $1,022,089.92. This represents a 119.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MAIR. Citigroup began coverage on shares of Madison Air Solutions in a research note on Monday, May 11th. They set a "buy" rating and a $49.00 target price on the stock. Stifel Nicolaus reduced their price target on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating for the company in a report on Friday, July 31st. Zacks Research downgraded Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Wall Street Zen raised Madison Air Solutions to a "hold" rating in a report on Sunday, July 12th. Finally, Wolfe Research assumed coverage on Madison Air Solutions in a research report on Monday, May 11th. They issued a "peer perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Madison Air Solutions has an average rating of "Moderate Buy" and a consensus price target of $44.00.

About Madison Air Solutions

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.