SouthState Corp Makes New $424,000 Investment in Ryanair Holdings PLC (NASDAQ:RYAAY)

Key Points

• SouthState Corp acquired a new stake in Ryanair Holdings PLC, purchasing 10,000 shares valued at approximately $424,000 in the first quarter.
• Analysts have raised their ratings on Ryanair, with a consensus rating of "Buy" and a target price of $111.50, reflecting strong positive sentiment towards the stock.
• Ryanair recently increased its dividend to $0.534 per share, representing a yield of 120.0%, effective for shareholders of record on August 8th.

SouthState Corp acquired a new position in Ryanair Holdings PLC (NASDAQ:RYAAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,000 shares of the transportation company's stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Ryanair by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 776,175 shares of the transportation company's stock worth $33,833,000 after buying an additional 119,931 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Ryanair by 5.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 439,008 shares of the transportation company's stock worth $19,136,000 after buying an additional 21,158 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Ryanair by 117.3% in the fourth quarter. Bank of Montreal Can now owns 24,283 shares of the transportation company's stock worth $1,058,000 after buying an additional 13,108 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Ryanair by 2.7% in the fourth quarter. Legal & General Group Plc now owns 152,194 shares of the transportation company's stock worth $6,634,000 after buying an additional 3,930 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Ryanair in the fourth quarter worth $18,445,000. Hedge funds and other institutional investors own 43.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Ryanair from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Citigroup reaffirmed a "buy" rating on shares of Ryanair in a report on Wednesday, May 21st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Ryanair in a report on Wednesday, May 21st. Raymond James Financial restated a "strong-buy" rating and set a $76.00 price objective (up from $70.00) on shares of Ryanair in a research report on Wednesday, July 23rd. Finally, Oddo Bhf raised shares of Ryanair from an "underperform" rating to an "outperform" rating in a report on Wednesday, July 16th. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ryanair has an average rating of "Buy" and an average target price of $111.50.

Ryanair Stock Up 1.2%

NASDAQ:RYAAY traded up $0.81 during mid-day trading on Friday, hitting $66.65. The stock had a trading volume of 1,046,742 shares, compared to its average volume of 1,561,411. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $59.46 and a two-hundred day simple moving average of $51.71. The company has a market capitalization of $35.34 billion, a PE ratio of 15.64, a PEG ratio of 1.08 and a beta of 1.36. Ryanair Holdings PLC has a twelve month low of $38.52 and a twelve month high of $67.18.

Ryanair (NASDAQ:RYAAY - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The transportation company reported $1.74 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.25. Ryanair had a net margin of 14.42% and a return on equity of 27.91%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.16 billion. On average, equities research analysts anticipate 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. Shareholders of record on Friday, August 8th will be given a dividend of $0.534 per share. This represents a dividend yield of 120.0%. The ex-dividend date is Friday, September 12th. This is an increase from Ryanair's previous -- dividend of $0.47. Ryanair's payout ratio is presently 14.55%.

Ryanair Company Profile

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.