CastleKnight Management LP Decreases Stock Holdings in FTAI Aviation Ltd. $FTAI

CastleKnight Management LP reduced its stake in shares of FTAI Aviation Ltd. (NASDAQ:FTAI) by 65.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,700 shares of the financial services provider’s stock after selling 52,000 shares during the quarter. CastleKnight Management LP’s holdings in FTAI Aviation were worth $5,453,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Greenline Wealth Management LLC purchased a new stake in shares of FTAI Aviation during the 4th quarter worth $50,000. First Horizon Corp lifted its stake in shares of FTAI Aviation by 131.9% during the 4th quarter. First Horizon Corp now owns 320 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 182 shares during the last quarter. Covestor Ltd lifted its stake in shares of FTAI Aviation by 338.6% during the 4th quarter. Covestor Ltd now owns 386 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 298 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of FTAI Aviation by 13.6% during the 3rd quarter. Rossby Financial LCC now owns 543 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 65 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FTAI Aviation by 88.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 485 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 227 shares during the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Aviation Trading Up 3.3%

FTAI Aviation stock opened at $277.31 on Thursday. The stock has a 50-day moving average of $249.66 and a two-hundred day moving average of $243.44. The company has a debt-to-equity ratio of 8.00, a quick ratio of 2.48 and a current ratio of 5.24. FTAI Aviation Ltd. has a one year low of $108.47 and a one year high of $323.51. The stock has a market cap of $28.45 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.47.

FTAI Aviation (NASDAQ:FTAI) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.32). The business had revenue of $830.70 million during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. On average, research analysts anticipate that FTAI Aviation Ltd. will post 6.77 EPS for the current fiscal year.

FTAI Aviation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.6%. FTAI Aviation’s dividend payout ratio is currently 31.75%.

Wall Street Analyst Weigh In

FTAI has been the subject of a number of analyst reports. Zacks Research cut FTAI Aviation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $319.00 price target on shares of FTAI Aviation in a research note on Friday, May 8th. Weiss Ratings cut FTAI Aviation from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $400.00 price target on shares of FTAI Aviation in a research note on Sunday, May 3rd. Finally, Barclays increased their price target on FTAI Aviation from $260.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.88.

Insider Transactions at FTAI Aviation

In other news, Director Judith A. Hannaway sold 255 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $253.89, for a total value of $64,741.95. Following the transaction, the director directly owned 3,012 shares of the company’s stock, valued at approximately $764,716.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Tuchman sold 143,584 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $242.44, for a total value of $34,810,504.96. Following the completion of the transaction, the director directly owned 236,302 shares in the company, valued at $57,289,056.88. This represents a 37.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 254,515 shares of company stock worth $61,599,445 over the last three months. Corporate insiders own 1.35% of the company’s stock.

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.