Bank of New York Mellon Corp boosted its stake in shares of Wesco Aircraft Holdings Inc (NYSE:WAIR) by 767.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,061,173 shares of the aerospace company’s stock after purchasing an additional 1,823,540 shares during the quarter. Bank of New York Mellon Corp owned about 2.07% of Wesco Aircraft worth $23,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of WAIR. Aperio Group LLC raised its stake in shares of Wesco Aircraft by 49.3% in the second quarter. Aperio Group LLC now owns 72,754 shares of the aerospace company’s stock worth $818,000 after purchasing an additional 24,039 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Wesco Aircraft by 96.2% in the second quarter. Citadel Advisors LLC now owns 83,623 shares of the aerospace company’s stock worth $940,000 after purchasing an additional 41,010 shares during the last quarter. Millennium Management LLC raised its stake in shares of Wesco Aircraft by 67.1% in the first quarter. Millennium Management LLC now owns 146,696 shares of the aerospace company’s stock worth $1,504,000 after purchasing an additional 58,894 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Wesco Aircraft by 14.3% in the second quarter. Bank of America Corp DE now owns 189,669 shares of the aerospace company’s stock worth $2,134,000 after purchasing an additional 23,745 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Wesco Aircraft by 19.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 204,187 shares of the aerospace company’s stock worth $2,297,000 after purchasing an additional 33,897 shares during the last quarter. 89.87% of the stock is currently owned by institutional investors.
Shares of NYSE:WAIR opened at $9.29 on Friday. Wesco Aircraft Holdings Inc has a 52-week low of $6.05 and a 52-week high of $14.23. The stock has a market capitalization of $901.99 million, a PE ratio of 12.39, a PEG ratio of 0.91 and a beta of 0.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 4.08 and a quick ratio of 1.15.
Wesco Aircraft (NYSE:WAIR) last announced its quarterly earnings data on Thursday, November 15th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $406.82 million during the quarter, compared to analysts’ expectations of $392.77 million. Wesco Aircraft had a return on equity of 11.11% and a net margin of 2.08%. As a group, equities analysts predict that Wesco Aircraft Holdings Inc will post 0.83 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on WAIR. UBS Group began coverage on Wesco Aircraft in a research note on Wednesday, August 15th. They issued a “sell” rating and a $11.00 price objective for the company. ValuEngine upgraded Wesco Aircraft from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Wesco Aircraft has a consensus rating of “Hold” and an average price target of $9.70.
Wesco Aircraft Company Profile
Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in the North America and internationally. Its services comprise traditional distribution, management of supplier relationships, quality assurance, kitting, just-in-time delivery, chemical management services, third-party logistics or fourth-party logistics programs, and point-of-use inventory management.
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