Madison Air Solutions Corporation's (NYSE:MAIR) Lock-Up Period Will Expire on October 13th

Key Points

• Madison Air Solutions’ lock-up period expires October 13, allowing major shareholders and insiders to sell shares. The company issued 82.7 million shares in its April public offering at $27 each.
• Analyst sentiment is mixed but remains moderately positive, with a consensus “Moderate Buy” rating and a $44 target price. Several firms recently lowered their price targets or ratings.
• The company reported quarterly EPS of $0.31, beating estimates of $0.24, while revenue rose 20.9% year over year to $991.3 million. Shares recently traded near $25, compared with a 52-week range of $22.91 to $44.50.

Madison Air Solutions' (NYSE:MAIR - Get Free Report) lock-up period will expire on Tuesday, October 13th. Madison Air Solutions had issued 82,692,308 shares in its public offering on April 16th. The total size of the offering was $2,232,692,316 based on an initial share price of $27.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

MAIR has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on Madison Air Solutions from $49.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Zacks Research lowered shares of Madison Air Solutions from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Madison Air Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, September 28th. Wells Fargo & Company dropped 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 report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Madison Air Solutions to a "hold" rating in a research note on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

Madison Air Solutions Stock Performance

Madison Air Solutions stock opened at $25.02 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.84. The company's 50-day moving average price is $27.09. The stock has a market cap of $12.55 billion and a P/E ratio of 0.00. Madison Air Solutions has a fifty-two week low of $22.91 and a fifty-two week high of $44.50.

Madison Air Solutions (NYSE:MAIR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $991.30 million during the quarter. During the same period last year, the firm posted $0.24 EPS. The firm's revenue was up 20.9% on a year-over-year basis. As a group, analysts predict that Madison Air Solutions will post 1.09 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Madison Air Solutions

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in shares of Madison Air Solutions in the second quarter worth $7,134,000. State Street Corp acquired a new position in Madison Air Solutions during the second quarter valued at $16,558,000. BlueCrest Capital Management Ltd purchased a new stake in Madison Air Solutions in the second quarter valued at $23,790,000. Engineers Gate Manager LP purchased a new stake in Madison Air Solutions in the second quarter valued at $1,503,000. Finally, NewEdge Advisors LLC acquired a new stake in Madison Air Solutions during the 2nd quarter worth about $94,000.

About Madison Air Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.