Insider Buying: Madison Air Solutions (NYSE:MAIR) Director Acquires $556,800.00 in Stock

Madison Air Solutions Corporation (NYSE:MAIR) Director Force Andrew Hudson La III purchased 20,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were acquired 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 directly owned 36,713 shares in the company, valued at approximately $1,022,089.92. This represents a 119.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Madison Air Solutions Price Performance

Madison Air Solutions stock opened at $26.32 on Friday. The firm has a market cap of $13.21 billion and a P/E ratio of 0.00. The business’s 50-day simple moving average is $33.05. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.21 and a current ratio of 1.82. Madison Air Solutions Corporation has a one year low of $24.75 and a one year high of $44.50.

Madison Air Solutions (NYSE:MAIR) last released its earnings results on Thursday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $991.30 million during the quarter. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that Madison Air Solutions Corporation will post 1.11 earnings per share for the current year.

Analyst Ratings Changes

MAIR has been the topic of a number of analyst reports. Zacks Research cut Madison Air Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Citigroup began coverage on shares of Madison Air Solutions in a report on Monday, May 11th. They set a “buy” rating and a $49.00 target price on the stock. Bank of America assumed coverage on shares of Madison Air Solutions in a research report on Monday, May 11th. They set a “buy” rating and a $47.00 price target on the stock. Royal Bank Of Canada cut their price target on shares of Madison Air Solutions from $47.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Madison Air Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Madison Air Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Hedge Funds Weigh In On Madison Air Solutions

Several large investors have recently modified their holdings of MAIR. Bank of New York Mellon Corp acquired a new stake in shares of Madison Air Solutions during the 2nd quarter worth about $1,659,000. Madison Asset Management LLC acquired a new position in Madison Air Solutions in the 2nd quarter valued at about $3,215,000. Amundi acquired a new position in Madison Air Solutions in the 2nd quarter valued at about $6,406,000. Readystate Asset Management LP bought a new position in Madison Air Solutions in the 2nd quarter valued at about $16,029,000. Finally, Alyeska Investment Group L.P. bought a new position in Madison Air Solutions in the 2nd quarter valued at about $67,411,000.

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.