Tribune Investment Group LP Sells 8,120 Shares of FTAI Aviation Ltd. $FTAI

Key Points

• Tribune Investment Group LP cut its FTAI Aviation stake by 36.9% in the second quarter, selling 8,120 shares and retaining 13,880 shares valued at approximately $3.76 million. Institutional investors collectively own 88.96% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $320.11, although several firms recently lowered their targets or downgraded the stock to “Hold.”
• FTAI reported quarterly revenue growth of 40.9% year over year but missed earnings expectations, posting $1.13 per share versus the $1.32 consensus estimate. The company declared a quarterly dividend of $0.50 per share, equivalent to a 1.0% annual yield.

Tribune Investment Group LP reduced its stake in FTAI Aviation Ltd. (NASDAQ:FTAI - Free Report) by 36.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,880 shares of the financial services provider's stock after selling 8,120 shares during the period. FTAI Aviation makes up 1.5% of Tribune Investment Group LP's portfolio, making the stock its 22nd largest holding. Tribune Investment Group LP's holdings in FTAI Aviation were worth $3,755,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FTAI. AQR Capital Management LLC purchased a new position in shares of FTAI Aviation during the first quarter valued at about $242,000. Cetera Investment Advisers increased its holdings in shares of FTAI Aviation by 73.3% in the second quarter. Cetera Investment Advisers now owns 5,597 shares of the financial services provider's stock worth $644,000 after purchasing an additional 2,368 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FTAI Aviation by 23.8% in the second quarter. Invesco Ltd. now owns 417,375 shares of the financial services provider's stock worth $48,015,000 after purchasing an additional 80,341 shares during the last quarter. Amundi lifted its position in shares of FTAI Aviation by 16,560.0% in the second quarter. Amundi now owns 2,499 shares of the financial services provider's stock worth $283,000 after buying an additional 2,484 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of FTAI Aviation in the second quarter worth about $2,736,000. Hedge funds and other institutional investors own 88.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FTAI. Citizens Jmp started coverage on FTAI Aviation in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 price objective on the stock. Weiss Ratings cut FTAI Aviation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. BTIG Research lowered their target price on FTAI Aviation from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Royal Bank Of Canada cut their target price on shares of FTAI Aviation from $350.00 to $300.00 and set an "outperform" rating for the company in a report on Monday, July 27th. Finally, Zacks Research cut shares of FTAI Aviation from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $320.11.

FTAI Aviation Price Performance

Shares of NASDAQ:FTAI opened at $209.70 on Monday. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 0.84 and a beta of 1.51. FTAI Aviation Ltd. has a 12 month low of $144.98 and a 12 month high of $323.51. The company has a current ratio of 5.28, a quick ratio of 2.07 and a debt-to-equity ratio of 8.55. The company has a 50-day moving average price of $230.58 and a 200 day moving average price of $247.21.

FTAI Aviation (NASDAQ:FTAI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.19). The company had revenue of $953.09 million for the quarter. FTAI Aviation had a return on equity of 139.59% and a net margin of 15.94%.FTAI Aviation's revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 earnings per share. As a group, equities research analysts predict that FTAI Aviation Ltd. will post 6.77 earnings per share for the current year.

FTAI Aviation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 1.0%. FTAI Aviation's payout ratio is currently 43.48%.

Insider Activity at FTAI Aviation

In related news, President David Moreno purchased 2,475 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $201.27 per share, for a total transaction of $498,143.25. Following the completion of the transaction, the president directly owned 199,490 shares in the company, valued at $40,151,352.30. This represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Judith A. Hannaway sold 255 shares of FTAI Aviation stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total transaction of $64,741.95. Following the transaction, the director directly owned 3,012 shares of the company's stock, valued at $764,716.68. The trade was a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.35% of the company's stock.

FTAI Aviation Profile

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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