Entrust Global Partners L L C Invests $43.39 Million in flyExclusive, Inc. $FLYX

Key Points

• Entrust Global Partners L L C has invested approximately $43.39 million in flyExclusive, acquiring 13,951,712 shares, making it the firm's third largest holding.
• flyExclusive's shares opened at $4.29, with a market cap of approximately $343.76 million and a price-to-earnings ratio of -3.90.
• A total of 12.99% of flyExclusive's stock is owned by hedge funds and other institutional investors, indicating growing interest in the company.

Entrust Global Partners L L C purchased a new stake in shares of flyExclusive, Inc. (NYSE:FLYX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,951,712 shares of the company's stock, valued at approximately $43,390,000. flyExclusive makes up about 8.8% of Entrust Global Partners L L C's investment portfolio, making the stock its 3rd biggest position. Entrust Global Partners L L C owned 17.41% of flyExclusive as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FLYX. Citadel Advisors LLC purchased a new position in flyExclusive during the fourth quarter valued at approximately $70,000. Raymond James Financial Inc. purchased a new position in flyExclusive during the fourth quarter valued at approximately $64,000. Finally, Axxcess Wealth Management LLC purchased a new position in flyExclusive during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 12.99% of the company's stock.

flyExclusive Stock Up 1.2%

NYSE:FLYX traded up $0.05 during trading hours on Friday, hitting $4.37. 22,864 shares of the stock traded hands, compared to its average volume of 19,614. flyExclusive, Inc. has a 1 year low of $1.79 and a 1 year high of $4.95. The company has a market cap of $350.17 million, a price-to-earnings ratio of -3.97 and a beta of 0.20. The stock has a 50 day moving average price of $3.13 and a 200 day moving average price of $3.00.

flyExclusive Profile

flyExclusive, Inc, through its subsidiary, LGM Enterprises, LLC., owns and operates private jets in North America. It also offers jet charter services; and aircraft maintenance, repair, overhaul (MRO) operations, and interior and exterior refurbishment services, as well as wholesale and retail ad hoc flights, a jet club program, partnership program, fractional program, and other services.