Envestnet Asset Management Inc. Acquires 182,929 Shares of Madison Air Solutions Corporation $MAIR

Key Points

• Envestnet Asset Management initiated a position of 182,929 Madison Air Solutions shares valued at approximately $7.1 million, while several other major institutional investors also bought stakes during the second quarter.
• Director Hudson La Force III purchased 20,000 shares at $27.84 each, more than doubling his direct ownership to 36,713 shares.
• Madison Air Solutions beat quarterly earnings expectations with EPS of $0.31 versus the $0.24 estimate, while revenue rose 20.9% year over year to $991.3 million. Analysts maintain a “Moderate Buy” consensus and an average $44 price target, despite recent target reductions.

Envestnet Asset Management Inc. purchased a new position in Madison Air Solutions Corporation (NYSE:MAIR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 182,929 shares of the company's stock, valued at approximately $7,134,000.

A number of other institutional investors also recently bought and sold shares of MAIR. Citadel Advisors LLC bought a new stake in shares of Madison Air Solutions during the second quarter worth $251,481,000. Alyeska Investment Group L.P. purchased a new position in shares of Madison Air Solutions during the second quarter valued at $67,411,000. BlueCrest Capital Management Ltd bought a new stake in shares of Madison Air Solutions in the 2nd quarter valued at about $23,790,000. State Street Corp bought a new position in Madison Air Solutions in the second quarter worth approximately $16,558,000. Finally, Readystate Asset Management LP bought a new stake in Madison Air Solutions during the 2nd quarter valued at $16,029,000.

Insider Activity at Madison Air Solutions

In other news, Director Hudson La Force, III acquired 20,000 shares of Madison Air Solutions stock in a transaction dated Tuesday, August 25th. The shares were 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 trade represents a 119.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Madison Air Solutions Price Performance

Madison Air Solutions stock opened at $25.02 on Friday. Madison Air Solutions Corporation has a 12 month low of $22.91 and a 12 month high of $44.50. The stock has a market capitalization of $12.55 billion and a PE ratio of 0.00. 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 business's 50 day moving average is $27.28.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.07. The company had revenue of $991.30 million for the quarter. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Madison Air Solutions Corporation will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MAIR shares. Weiss Ratings downgraded Madison Air Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. Zacks Research lowered shares of Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Wells Fargo & Company lowered 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. Stifel Nicolaus cut their price objective on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Finally, Royal Bank Of Canada decreased their price target on shares of Madison Air Solutions from $47.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.00.

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.

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