FTAI Aviation Ltd. $FTAI Shares Sold by Two Seas Capital LP

Key Points

• Two Seas Capital LP cut its FTAI Aviation stake by 30.9% in the fourth quarter, though it still held 186,209 shares worth about $36.7 million at the end of the period.
• Several other institutional investors were active in the stock, including Norges Bank taking a new position and Capital World Investors, Rubric Capital, and JPMorgan Chase significantly increasing their holdings.
• FTAI Aviation’s latest quarterly results missed EPS estimates, but revenue jumped 65.4% year over year; analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $326.88.

Two Seas Capital LP lowered its position in shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 186,209 shares of the financial services provider's stock after selling 83,392 shares during the period. FTAI Aviation comprises about 0.8% of Two Seas Capital LP's holdings, making the stock its 17th largest position. Two Seas Capital LP owned 0.18% of FTAI Aviation worth $36,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTAI. Norges Bank acquired a new stake in shares of FTAI Aviation during the fourth quarter worth about $262,393,000. Capital World Investors increased its position in shares of 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 purchasing an additional 933,944 shares in the last quarter. Northern Right Capital Management L.P. increased its position in shares of 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 purchasing an additional 795,675 shares in the last quarter. Rubric Capital Management LP increased its position in shares of FTAI Aviation by 28.3% during the second quarter. Rubric Capital Management LP now owns 3,394,080 shares of the financial services provider's stock worth $390,455,000 after purchasing an additional 749,080 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of FTAI Aviation by 396.7% during the third quarter. JPMorgan Chase & Co. now owns 831,414 shares of the financial services provider's stock worth $138,730,000 after purchasing an additional 664,037 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company's stock.

Insider Buying and Selling

In other FTAI Aviation news, Director Martin Tuchman sold 67,500 shares of FTAI Aviation stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $241.99, for a total value of $16,334,325.00. Following the sale, the director owned 210,491 shares of the company's stock, valued at approximately $50,936,717.09. The trade was a 24.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Hannaway sold 255 shares of FTAI Aviation stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $253.89, for a total value of $64,741.95. Following the completion of the sale, the director directly owned 3,012 shares in the company, valued at $764,716.68. This represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 254,515 shares of company stock worth $61,599,445 in the last ninety days. 1.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on FTAI. Barclays lifted their target price on FTAI Aviation from $260.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Jefferies Financial Group restated a "buy" rating and issued a $400.00 price target on shares of FTAI Aviation in a research report on Sunday, May 3rd. Zacks Research cut FTAI Aviation from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Weiss Ratings cut FTAI Aviation from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $319.00 price target on shares of FTAI Aviation in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $326.88.

FTAI Aviation Stock Performance

Shares of FTAI stock opened at $234.05 on Friday. The stock has a market capitalization of $24.01 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 1.01 and a beta of 1.47. FTAI Aviation Ltd. has a 52-week low of $108.47 and a 52-week high of $323.51. The stock's 50-day moving average price is $248.70 and its 200 day moving average price is $238.06. The company has a quick ratio of 2.48, a current ratio of 5.24 and a debt-to-equity ratio of 8.00.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.32). The company had revenue of $830.70 million during the quarter. FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The firm's revenue for the quarter was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, equities research analysts forecast that FTAI Aviation Ltd. will post 6.77 EPS for the current year.

FTAI Aviation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 13th. FTAI Aviation's payout ratio is currently 31.75%.

About FTAI Aviation

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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