FTAI Aviation Ltd (FTAI US, +1, 04-Jun-24)

Joseph Adams (Chair & CEO since 2014) purchased 59,000 shares on May 30th at $82, increasing his holdings by 44% to 385,000 shares. This $4.8 million purchase was done on a secondary offering of 2.1 million shares from a large holder (FIG LLC/Wesley Edens) who are selling the vast majority of their holdings. 

We typically don’t rank stocks based on activity on an offering but in this case, it is not the company selling shares, and more importantly, Adams has a great track record buying the shares. He last bought in November 2022 at $18 (where we ranked the stock +1 based partially on that purchase), and prior to that, he bought shares from $10-$14 in 2015-2018. This is a confident buy from the CEO, especially unusual with the stock near a multi-year high.

We are ranking the stock +1 (strongly positive).