Rubric Capital Management Lowers stake in AAR Corp. (AIR)

AAR Corp. (AIR) : Rubric Capital Management reduced its stake in AAR Corp. by 98.65% during the most recent quarter end. The investment management company now holds a total of 8,218 shares of AAR Corp. which is valued at $295,930 after selling 602,447 shares in AAR Corp. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.AAR Corp. makes up approximately 5.59% of Rubric Capital Management’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc reduced its stake in AIR by selling 8,209 shares or 28.49% in the most recent quarter. The Hedge Fund company now holds 20,600 shares of AIR which is valued at $741,806. AAR Corp. makes up approx 0.01% of Jacobs Levy Equity Management Inc’s portfolio.Rhumbline Advisers boosted its stake in AIR in the latest quarter, The investment management firm added 2,350 additional shares and now holds a total of 60,770 shares of AAR Corp. which is valued at $1,977,456. AAR Corp. makes up approx 0.01% of Rhumbline Advisers’s portfolio.Teachers Advisors boosted its stake in AIR in the latest quarter, The investment management firm added 16,187 additional shares and now holds a total of 68,093 shares of AAR Corp. which is valued at $2,215,746.Swiss National Bank reduced its stake in AIR by selling 1,900 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 55,800 shares of AIR which is valued at $1,815,732.

AAR Corp. opened for trading at $37.26 and hit $37.9 on the upside on Monday, eventually ending the session at $37.68, with a gain of 1.29% or 0.48 points. The heightened volatility saw the trading volume jump to 2,65,931 shares. Company has a market cap of $1,288 M.

On the company’s financial health, AAR Corp. reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 12, 2016. Analyst had a consensus of $0.43. The company had revenue of $458.20 million for the quarter, compared to analysts expectations of $461.53 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on AAR Corp.. Gabelli & Co Initiated AAR Corp. on Oct 25, 2016 to “Buy”, Price Target of the shares are set at $43.

AAR CORP. is a diversified provider of products and services to the worldwide commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services which provides aftermarket support and services for the commercial aviation and government and defense markets and Technology Products which is involved in the design manufacture and repair of transportation pallets and a range of containers and shelters used in support of military and humanitarian tactical deployment activities. The Company’s products services include aviation supply chain and parts support programs; maintenance repair and overhaul of aircraft and landing gear; design and manufacture of specialized mobility and cargo systems and composite and other precision machined structures; expeditionary airlift services and aircraft modifications and aircraft and engine sales and leasing.

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