Readystate Asset Management LP Acquires New Shares in Madison Air Solutions Corporation $MAIR

Key Points

• Readystate Asset Management LP acquired 411,000 Madison Air Solutions shares worth approximately $16.0 million, representing about 0.08% of the company. Other institutional investors, including Alyeska Investment Group, also initiated positions during the second quarter.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $44.00, despite several recent target-price reductions.
• Madison Air Solutions reported quarterly EPS of $0.31, beating estimates by $0.07, while revenue rose 20.9% year over year to $991.3 million. The stock opened at $25.96, near its 12-month low of $24.75.

Readystate Asset Management LP acquired a new position in shares of Madison Air Solutions Corporation (NYSE:MAIR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 411,000 shares of the company's stock, valued at approximately $16,029,000. Readystate Asset Management LP owned approximately 0.08% of Madison Air Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MAIR. Bank of New York Mellon Corp purchased a new stake in shares of Madison Air Solutions in the second quarter worth about $1,659,000. Madison Asset Management LLC purchased a new position in Madison Air Solutions during the second quarter valued at approximately $3,215,000. Finally, Alyeska Investment Group L.P. bought a new stake in Madison Air Solutions during the 2nd quarter worth approximately $67,411,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Wolfe Research assumed coverage on Madison Air Solutions in a research note on Monday, May 11th. They issued a "peer perform" rating on the stock. The Goldman Sachs Group started coverage on Madison Air Solutions in a report on Monday, May 11th. They issued a "neutral" rating and a $44.00 price target on the stock. Wall Street Zen raised Madison Air Solutions to a "hold" rating in a report on Sunday, July 12th. Finally, Royal Bank Of Canada decreased their price objective on shares of Madison Air Solutions from $47.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $44.00.

Insider Transactions at Madison Air Solutions

In other Madison Air Solutions news, Director Hudson La Force, III purchased 20,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $27.84 per share, with a total value of $556,800.00. Following the completion of the purchase, the director owned 36,713 shares of the company's stock, valued at $1,022,089.92. The trade was a 119.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Madison Air Solutions Stock Up 0.2%

Shares of MAIR stock opened at $25.96 on Monday. The business's 50-day moving average price is $31.77. Madison Air Solutions Corporation has a 12-month low of $24.75 and a 12-month high of $44.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.21 and a current ratio of 1.82. The company has a market capitalization of $13.02 billion and a price-to-earnings ratio of 0.00.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $991.30 million for the quarter. The company's revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, research analysts expect that Madison Air Solutions Corporation will post 1.11 EPS for the current fiscal year.

Madison Air Solutions 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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