Rubric Capital Management LP Sells 1,123,814 Shares of FTAI Aviation Ltd. $FTAI

Rubric Capital Management LP trimmed its position in FTAI Aviation Ltd. (NASDAQ:FTAI) by 30.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,576,186 shares of the financial services provider’s stock after selling 1,123,814 shares during the period. FTAI Aviation comprises approximately 6.7% of Rubric Capital Management LP’s holdings, making the stock its 2nd largest holding. Rubric Capital Management LP owned about 2.51% of FTAI Aviation worth $631,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mediolanum International Funds Ltd acquired a new position in FTAI Aviation during the 1st quarter valued at about $1,313,000. M&T Bank Corp grew its position in shares of FTAI Aviation by 323.6% during the 4th quarter. M&T Bank Corp now owns 16,112 shares of the financial services provider’s stock worth $3,172,000 after buying an additional 12,308 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of FTAI Aviation during the first quarter worth approximately $7,217,000. Trek Financial LLC bought a new stake in shares of FTAI Aviation during the fourth quarter worth approximately $3,936,000. Finally, Swiss National Bank lifted its holdings in FTAI Aviation by 48.9% in the first quarter. Swiss National Bank now owns 301,000 shares of the financial services provider’s stock valued at $73,745,000 after buying an additional 98,808 shares during the period. Institutional investors own 88.96% of the company’s stock.

Insider Buying and Selling at FTAI Aviation

In other news, Director Judith A. Hannaway sold 255 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were 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 in the company, valued at $764,716.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Tuchman sold 143,584 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $242.44, for a total transaction of $34,810,504.96. Following the completion of the sale, the director directly owned 236,302 shares in the company, valued at approximately $57,289,056.88. The trade was a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 254,515 shares of company stock valued at $61,599,445 over the last three months. 1.35% of the stock is owned by company insiders.

FTAI Aviation Price Performance

Shares of NASDAQ FTAI opened at $214.15 on Tuesday. The company has a debt-to-equity ratio of 8.00, a current ratio of 5.24 and a quick ratio of 2.48. The business has a 50-day moving average of $241.77 and a 200-day moving average of $254.48. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 0.87 and a beta of 1.46. FTAI Aviation Ltd. has a fifty-two week low of $113.43 and a fifty-two week high of $323.51.

FTAI Aviation (NASDAQ:FTAI) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.32). The company had revenue of $830.70 million for the quarter. FTAI Aviation had a net margin of 18.92% and a return on equity of 181.43%. The business’s revenue was up 65.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, sell-side analysts predict that FTAI Aviation Ltd. will post 6.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $400.00 price objective on shares of FTAI Aviation in a research note on Sunday, May 3rd. BTIG Research upped their target price on shares of FTAI Aviation from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Citizens Jmp initiated coverage on FTAI Aviation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target on the stock. Royal Bank Of Canada reduced their price target on FTAI Aviation from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Zacks Research cut FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $334.38.

About FTAI Aviation

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.