ICG Advisors LLC Sells 7,500 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• ICG Advisors LLC cut its FTAI Aviation stake by 27.3% in the first quarter, selling 7,500 shares and leaving it with 20,000 shares valued at about $4.9 million.
• Several other institutional investors also made notable moves in FTAI Aviation, while hedge funds and institutions still own 88.96% of the company’s shares.
• FTAI Aviation reported Q1 EPS of $1.29, missing estimates, but revenue rose 65.4% year over year; analysts remain broadly positive with a Moderate Buy consensus and an average price target of $326.88.

ICG Advisors LLC lowered its stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,000 shares of the financial services provider's stock after selling 7,500 shares during the period. FTAI Aviation makes up 19.1% of ICG Advisors LLC's holdings, making the stock its 2nd biggest holding. ICG Advisors LLC's holdings in FTAI Aviation were worth $4,900,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp lifted its holdings in shares of FTAI Aviation by 323.6% during the 4th quarter. M&T Bank Corp now owns 16,112 shares of the financial services provider's stock worth $3,172,000 after acquiring an additional 12,308 shares during the period. Trek Financial LLC bought a new position in FTAI Aviation in the fourth quarter valued at approximately $3,936,000. Teachers Retirement System of The State of Kentucky increased its stake in FTAI Aviation by 21.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 65,030 shares of the financial services provider's stock valued at $10,851,000 after acquiring an additional 11,457 shares during the last quarter. Oaktree Capital Management LP acquired a new position in FTAI Aviation during the third quarter valued at approximately $97,642,000. Finally, Asset Management One Co. Ltd. raised its position in FTAI Aviation by 51.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 18,698 shares of the financial services provider's stock valued at $3,681,000 after purchasing an additional 6,374 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company's stock.

Insider Buying and Selling at FTAI Aviation

In related news, Director Martin Tuchman sold 67,500 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $241.99, for a total transaction of $16,334,325.00. Following the sale, the director owned 210,491 shares in the company, valued at $50,936,717.09. The trade was a 24.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Hannaway sold 255 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total value of $64,741.95. Following the sale, the director owned 3,012 shares in the company, valued at $764,716.68. This represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 254,515 shares of company stock worth $61,599,445. 1.35% of the stock is currently owned by company insiders.

FTAI Aviation Price Performance

FTAI stock opened at $268.40 on Friday. The stock has a market cap of $27.53 billion, a price-to-earnings ratio of 53.25, a P/E/G ratio of 1.10 and a beta of 1.47. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48. The company has a 50 day simple moving average of $251.44 and a 200 day simple moving average of $247.62. FTAI Aviation Ltd. has a 1 year low of $108.47 and a 1 year high of $323.51.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates 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%. FTAI Aviation's quarterly revenue was up 65.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Research analysts anticipate that FTAI Aviation Ltd. will post 6.77 EPS for the current fiscal year.

FTAI Aviation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 13th. FTAI Aviation's dividend payout ratio is presently 31.75%.

Analyst Upgrades and Downgrades

FTAI has been the subject of several recent analyst reports. BTIG Research upped their target price on FTAI Aviation from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Barclays lifted their price target on FTAI Aviation from $260.00 to $350.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Zacks Research cut FTAI Aviation from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Morgan Stanley restated an "overweight" rating and set a $319.00 price objective on shares of FTAI Aviation in a research report on Friday, May 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $400.00 price objective on shares of FTAI Aviation in a research note on Sunday, May 3rd. 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $326.88.

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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