Air Methods Corp. (AIRM) Stake Increased by Principal Financial Group Inc.
Principal Financial Group Inc. boosted its position in Air Methods Corp. (NASDAQ:AIRM) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 253,910 shares of the company’s stock after buying an additional 9,424 shares during the period. Principal Financial Group Inc. owned approximately 0.66% of Air Methods Corp. worth $9,097,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Air Methods Corp. by 173.7% in the first quarter. Renaissance Technologies LLC now owns 467,400 shares of the company’s stock worth $16,929,000 after buying an additional 296,600 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Air Methods Corp. during the second quarter worth $7,373,000. Dimensional Fund Advisors LP increased its position in shares of Air Methods Corp. by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,794,621 shares of the company’s stock worth $64,301,000 after buying an additional 173,802 shares during the last quarter. AJO LP purchased a new position in shares of Air Methods Corp. during the second quarter worth $5,732,000. Finally, Victory Capital Management Inc. increased its position in shares of Air Methods Corp. by 13,018.2% in the second quarter. Victory Capital Management Inc. now owns 123,442 shares of the company’s stock worth $4,423,000 after buying an additional 122,501 shares during the last quarter.
Air Methods Corp. (NASDAQ:AIRM) opened at 30.20 on Tuesday. The company has a market capitalization of $1.15 billion, a PE ratio of 10.29 and a beta of 1.47. The firm’s 50-day moving average is $32.12 and its 200-day moving average is $34.75. Air Methods Corp. has a 52-week low of $29.50 and a 52-week high of $46.50.
Air Methods Corp. (NASDAQ:AIRM) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by $0.07. Air Methods Corp. had a net margin of 10.18% and a return on equity of 20.90%. The company had revenue of $292.60 million for the quarter, compared to the consensus estimate of $299.35 million. During the same quarter last year, the business posted $0.69 earnings per share. Air Methods Corp.’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Air Methods Corp. will post $3.09 EPS for the current year.
A number of equities analysts recently weighed in on AIRM shares. Zacks Investment Research downgraded shares of Air Methods Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Oppenheimer Holdings Inc. lowered their target price on shares of Air Methods Corp. from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.67.
In related news, Director Joseph E. Whitters acquired 2,500 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $32.12 per share, for a total transaction of $80,300.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sharon J. Keck sold 1,300 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $32.43, for a total value of $42,159.00. The disclosure for this sale can be found here. Company insiders own 8.99% of the company’s stock.
About Air Methods Corp.
Air Methods Corporation is engaged in providing air medical emergency transport services and systems throughout the United States. The Company’s segments include Air Medical Services (AMS), Tourism and United Rotorcraft (UR) Division. The Company’s AMS segment provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements.
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