FTAI Aviation (NASDAQ:FTAI) Shares Gap Up Following Better-Than-Expected Earnings

FTAI Aviation Ltd. (NASDAQ:FTAI) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $114.14, but opened at $126.45. FTAI Aviation shares last traded at $135.70, with a volume of 1,826,028 shares changing hands.

The financial services provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.33 by $0.24. The firm had revenue of $676.24 million during the quarter, compared to analyst estimates of $754.75 million. FTAI Aviation had a net margin of 21.31% and a return on equity of 601.23%. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter last year, the business posted ($2.26) EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of FTAI Aviation to a “strong-buy” rating in a research note on Thursday, May 8th. Citigroup restated a “buy” rating on shares of FTAI Aviation in a research note on Thursday, July 10th. Barclays decreased their price target on shares of FTAI Aviation from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada decreased their price target on shares of FTAI Aviation from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of FTAI Aviation to a “sell” rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.83.

Insider Buying and Selling at FTAI Aviation

In other news, insider Stacy Kuperus acquired 1,087 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $92.90 per share, for a total transaction of $100,982.30. Following the completion of the transaction, the insider owned 88,423 shares of the company’s stock, valued at $8,214,496.70. The trade was a 1.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Moreno acquired 6,580 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $94.85 per share, for a total transaction of $624,113.00. Following the transaction, the chief operating officer directly owned 231,623 shares of the company’s stock, valued at approximately $21,969,441.55. This trade represents a 2.92% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 10,667 shares of company stock worth $1,008,715. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTAI Aviation

A number of large investors have recently modified their holdings of FTAI. Capital International Investors boosted its stake in shares of FTAI Aviation by 39.7% during the 4th quarter. Capital International Investors now owns 10,677,171 shares of the financial services provider’s stock valued at $1,537,940,000 after purchasing an additional 3,034,838 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of FTAI Aviation by 159.6% during the 1st quarter. Wellington Management Group LLP now owns 2,347,633 shares of the financial services provider’s stock valued at $260,658,000 after purchasing an additional 1,443,440 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in shares of FTAI Aviation during the 1st quarter valued at about $61,546,000. Shellback Capital LP bought a new stake in shares of FTAI Aviation during the 4th quarter valued at about $76,510,000. Finally, Sessa Capital IM L.P. bought a new stake in shares of FTAI Aviation during the 1st quarter valued at about $44,412,000. Institutional investors own 88.96% of the company’s stock.

FTAI Aviation Trading Up 26.6%

The business’s 50 day moving average price is $119.05 and its two-hundred day moving average price is $112.77. The stock has a market cap of $14.82 billion, a P/E ratio of 35.76 and a beta of 1.62.

About FTAI Aviation

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.