Empyrean Capital Partners LP Buys Shares of 554,320 FTAI Aviation Ltd. $FTAI

Key Points

• Empyrean Capital Partners LP has acquired a new position in FTAI Aviation Ltd., purchasing 554,320 shares valued at approximately $61.5 million, making the stock its 10th largest holding.
• Institutional investors own nearly 89% of FTAI Aviation, with Wellington Management Group increasing its stake by 159.6% and Appian Way Asset Management LP growing its stake by 601.8% in the first quarter.
• FTAI Aviation reported an EPS of $1.57 for the last quarter, exceeding the consensus estimate of $1.33, along with revenue growth of 52.4% year-over-year despite missing analyst expectations.

Empyrean Capital Partners LP purchased a new stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 554,320 shares of the financial services provider's stock, valued at approximately $61,546,000. FTAI Aviation comprises 2.2% of Empyrean Capital Partners LP's portfolio, making the stock its 10th largest position. Empyrean Capital Partners LP owned approximately 0.54% of FTAI Aviation as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTAI. Wellington Management Group LLP increased its position in shares of FTAI Aviation by 159.6% during the first quarter. Wellington Management Group LLP now owns 2,347,633 shares of the financial services provider's stock valued at $260,658,000 after acquiring an additional 1,443,440 shares during the last quarter. Shellback Capital LP acquired a new position in shares of FTAI Aviation in the fourth quarter valued at approximately $76,510,000. Appian Way Asset Management LP grew its holdings in shares of FTAI Aviation by 601.8% in the first quarter. Appian Way Asset Management LP now owns 450,780 shares of the financial services provider's stock valued at $50,050,000 after purchasing an additional 386,549 shares in the last quarter. Nuveen LLC acquired a new position in shares of FTAI Aviation in the first quarter valued at approximately $41,789,000. Finally, Long Focus Capital Management LLC grew its holdings in shares of FTAI Aviation by 64.6% in the first quarter. Long Focus Capital Management LLC now owns 790,000 shares of the financial services provider's stock valued at $87,714,000 after purchasing an additional 310,000 shares in the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTAI shares. Citigroup restated a "buy" rating on shares of FTAI Aviation in a report on Thursday, July 10th. Morgan Stanley lifted their price target on shares of FTAI Aviation from $138.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Zacks Research upgraded shares of FTAI Aviation from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. BTIG Research lifted their price target on shares of FTAI Aviation from $190.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, JMP Securities boosted their price objective on shares of FTAI Aviation from $180.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $182.83.

FTAI Aviation Stock Performance

FTAI traded down $1.55 during trading on Friday, hitting $154.00. The stock had a trading volume of 1,489,286 shares, compared to its average volume of 980,949. The firm has a market capitalization of $15.80 billion, a P/E ratio of 38.12 and a beta of 1.65. The company's 50-day moving average price is $131.19 and its 200 day moving average price is $119.01. FTAI Aviation Ltd. has a twelve month low of $75.06 and a twelve month high of $181.64.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.24. The company had revenue of $676.24 million for the quarter, compared to analysts' expectations of $754.75 million. FTAI Aviation had a net margin of 21.31% and a return on equity of 465.13%. FTAI Aviation's revenue was up 52.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.26) EPS. As a group, equities analysts expect that FTAI Aviation Ltd. will post 2.2 earnings per share for the current fiscal year.

FTAI Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 12th. FTAI Aviation's dividend payout ratio is presently 29.70%.

About FTAI Aviation

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.