State Street Corp Acquires 424,564 Shares of Madison Air Solutions Corporation $MAIR

Key Points

• State Street Corp. acquired 424,564 shares of Madison Air Solutions in the second quarter, valued at approximately $16.6 million and representing a 0.08% stake. Several other institutional investors, including Citadel Advisors and Alyeska Investment Group, also initiated positions.
• Analysts lowered their price targets, with estimates ranging from $33 to $41, though the stock retains a consensus “Moderate Buy” rating and a $44 average price target.
• Madison Air Solutions reported quarterly earnings of $0.31 per share, exceeding the $0.24 consensus estimate, while revenue rose 20.9% year over year to $991.3 million. The stock opened at $25.28, near its 12-month low of $22.91.

State Street Corp bought a new stake in Madison Air Solutions Corporation (NYSE:MAIR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 424,564 shares of the company's stock, valued at approximately $16,558,000. State Street Corp owned 0.08% of Madison Air Solutions as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in MAIR. Squarepoint Ops LLC purchased a new position in Madison Air Solutions in the second quarter valued at about $3,118,000. Citadel Advisors LLC purchased a new stake in shares of Madison Air Solutions during the 2nd quarter worth approximately $251,481,000. Readystate Asset Management LP acquired a new stake in shares of Madison Air Solutions in the 2nd quarter worth approximately $16,029,000. Alyeska Investment Group L.P. acquired a new stake in shares of Madison Air Solutions in the 2nd quarter worth approximately $67,411,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Madison Air Solutions in the 2nd quarter valued at approximately $23,790,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating for the company in a report on Friday, July 31st. Zacks Research downgraded Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. 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. Weiss Ratings cut shares of Madison Air Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company dropped their target price on shares of Madison Air Solutions from $46.00 to $33.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Insiders Place Their Bets

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

Madison Air Solutions Trading Up 3.7%

NYSE:MAIR opened at $25.28 on Friday. The stock has a market cap of $12.68 billion and a price-to-earnings ratio of 0.00. 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 50-day moving average price of $28.34. Madison Air Solutions Corporation has a 12-month low of $22.91 and a 12-month high of $44.50.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.07. The firm had revenue of $991.30 million during the quarter. During the same period in the previous year, the company posted $0.24 earnings per share. Madison Air Solutions's revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Madison Air Solutions Corporation will post 1.09 earnings per share 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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