Kinney Asset Management LLC Trims Holdings in Ryanair Holdings PLC (NASDAQ:RYAAY)

Key Points

• Kinney Asset Management LLC reduced its holdings in Ryanair Holdings PLC by 33.8%, selling 154,000 shares, leaving it with a total of 301,379 shares.
• Ryanair reported earnings of $1.74 per share for the last quarter, exceeding expectations, along with a revenue of $5.07 billion, outperforming analyst estimates.
• The company has announced an increase in its dividend from $0.47 to $0.534 per share, demonstrating confidence in its financial performance and stability.

Kinney Asset Management LLC decreased its stake in shares of Ryanair Holdings PLC (NASDAQ:RYAAY - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,379 shares of the transportation company's stock after selling 154,000 shares during the quarter. Ryanair makes up 16.8% of Kinney Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Kinney Asset Management LLC owned approximately 0.06% of Ryanair worth $12,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI lifted its holdings in Ryanair by 198.6% in the 4th quarter. National Bank of Canada FI now owns 657 shares of the transportation company's stock worth $29,000 after buying an additional 437 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Ryanair by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 962 shares of the transportation company's stock valued at $41,000 after acquiring an additional 481 shares during the last quarter. Redwood Park Advisors LLC acquired a new position in Ryanair in the 4th quarter valued at $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ryanair during the first quarter valued at approximately $48,000. Finally, CWM LLC grew its position in Ryanair by 39.8% in the first quarter. CWM LLC now owns 1,191 shares of the transportation company's stock valued at $50,000 after acquiring an additional 339 shares during the period. 43.66% of the stock is owned by institutional investors and hedge funds.

Ryanair Stock Performance

Ryanair stock traded up $1.01 during midday trading on Wednesday, hitting $64.61. 1,067,709 shares of the company's stock were exchanged, compared to its average volume of 1,713,223. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.66 and a current ratio of 0.66. The firm's 50 day simple moving average is $58.21 and its 200 day simple moving average is $50.77. Ryanair Holdings PLC has a 12-month low of $38.52 and a 12-month high of $64.70. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.05 and a beta of 1.36.

Ryanair (NASDAQ:RYAAY - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The transportation company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.25. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.16 billion. Ryanair had a net margin of 14.42% and a return on equity of 27.91%. Equities research analysts predict that Ryanair Holdings PLC will post 3.09 EPS for the current year.

Ryanair Increases Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 8th will be issued a $0.534 dividend. This is an increase from Ryanair's previous -- dividend of $0.47. The ex-dividend date is Friday, September 12th. This represents a yield of 120.0%. Ryanair's dividend payout ratio is presently 23.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RYAAY shares. Oddo Bhf upgraded Ryanair from an "underperform" rating to an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Ryanair from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $76.00 price objective (up from $70.00) on shares of Ryanair in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ryanair in a research report on Wednesday, May 21st. Finally, Citigroup reissued a "buy" rating on shares of Ryanair in a research report on Wednesday, May 21st. Six research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $111.50.

About Ryanair

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, the United Kingdom, Italy, Spain, and internationally. It is also involved in the provision of various ancillary services, such as non-flight scheduled and Internet-related services, as well as in-flight sale of beverages, food, duty-free, and merchandise; and markets car hire, travel insurance, and accommodation services through its website and mobile app.