1 day ago
Alluvium ****** et Management, an ****** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#NASDAQ #ryaay #conventum #global
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#NASDAQ #ryaay #conventum #global
3 days ago
Alluvium ***** et Management, an ***** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#ryanair
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#ryanair
1 month ago
Ryanair (NASDAQ:RYAAY) reported a difficult start to its fiscal year, with PAT for the quarter falling 34% to €593 million (£503 million) as the price of its 20% unhedged jet fuel spiked and fares fell 6%. Although revenue edged 1% higher to €4.4 billion, the airline was forced to lower ticket prices to stimulate demand amid geopolitical uncertainty. The company also anticipates summer fares to be slightly lower compared to last year, mainly due to "consumer hesitancy" surrounding air travel. The question for investors now is whether Ryanair's (NASDAQ:RYAAY) cost advantages are enough to offset weaker pricing if that trend continues.
At first glance, the quarter looks disappointing. However, the underlying demand picture was stronger than the headline profit decline suggests. Passenger numbers increased 6% during the quarter, allowing revenue to rise 1% to €4.4 billion despite a 6% decline in fares. That suggests consumers are still willing to travel, even if airlines have had to compete more aggressively on price.
The company's biggest advantage, however, may not be demand but costs. Management said Ryanair (NASDAQ:RYAAY) remains better positioned than many of its competitors because approximately 80% of its fuel requirements through the end of March 2027 have already been hedged at $67 per barrel. It also hedged another 15% of next year's fuel needs at $85 per barrel during the recent interim ceasefire. By locking in a significant portion of its future fuel costs, Ryanair (NASDAQ:RYAAY) has reduced its exposure to one of the airline industry's biggest sources of earnings volatility.
Management also declined to provide a full-year profit forecast, arguing that it is still too early given the importance of close-in bookings over the remainder of the summer. While that creates uncertainty, it also suggests the company believes the rest of the summer season will play a much larger role in determining full-year performance than the first quarter alone.
The biggest concern for Ryanair (NASDAQ:RYAAY) following the recent earnings is that stronger passenger demand has not translated into stronger profitability. Despite carrying more passengers, Ryanair reported a 34% decline in profit after reducing fares to stimulate demand. If pricing remains under pressure, volume growth alone may not be enough to drive a meaningful earnings recovery.
#fuel
At first glance, the quarter looks disappointing. However, the underlying demand picture was stronger than the headline profit decline suggests. Passenger numbers increased 6% during the quarter, allowing revenue to rise 1% to €4.4 billion despite a 6% decline in fares. That suggests consumers are still willing to travel, even if airlines have had to compete more aggressively on price.
The company's biggest advantage, however, may not be demand but costs. Management said Ryanair (NASDAQ:RYAAY) remains better positioned than many of its competitors because approximately 80% of its fuel requirements through the end of March 2027 have already been hedged at $67 per barrel. It also hedged another 15% of next year's fuel needs at $85 per barrel during the recent interim ceasefire. By locking in a significant portion of its future fuel costs, Ryanair (NASDAQ:RYAAY) has reduced its exposure to one of the airline industry's biggest sources of earnings volatility.
Management also declined to provide a full-year profit forecast, arguing that it is still too early given the importance of close-in bookings over the remainder of the summer. While that creates uncertainty, it also suggests the company believes the rest of the summer season will play a much larger role in determining full-year performance than the first quarter alone.
The biggest concern for Ryanair (NASDAQ:RYAAY) following the recent earnings is that stronger passenger demand has not translated into stronger profitability. Despite carrying more passengers, Ryanair reported a 34% decline in profit after reducing fares to stimulate demand. If pricing remains under pressure, volume growth alone may not be enough to drive a meaningful earnings recovery.
#fuel
2 months ago
Ryanair Holdings plc (NASDAQ:RYAAY)'s fiscal first-quarter profit fell 34% to €538 million from €820 million a year earlier. Revenue rose about 1% to €4.38 billion, short of the €4.48 billion ***** ysts expected. Passenger traffic climbed 6% to 61.3 million. Shares fell as much as 7% on the day (July 20). Rival carriers Wizz Air, Lufthansa, IAG, and Air France-KLM all dropped too.
Two things drove the miss. Firstly, fares fell 6% as the Iran war made travelers nervous and pushed bookings closer to departure. Secondly, operating costs rose 11% because the 20% of Ryanair Holdings plc (NASDAQ:RYAAY)'s jet fuel that isn't hedged more than doubled in price, hitting $150 a barrel during the quarter. CEO Michael O'Leary said the conflict, EU jet-fuel supply concerns, and general economic uncertainty forced the airline to cut fares to fill seats. He gave no full-year profit guidance, calling second-quarter pricing "trending modestly down" YoY and noting zero visibility into the second half of the year.
That raises a real question. Is this just a short-term problem for Europe's strongest budget airline, or is it the beginning of a long period of low ticket prices that will last even after the war ends?
BULL CASE
Ryanair Holdings plc (NASDAQ:RYAAY)'s own earnings call is the strongest source for the bull case. CFO Neil Sorahan told CNBC the Middle East conflict will cause a capacity shakeout among weaker European airlines this winter, since carriers without Ryanair's cost base or balance sheet may fail or get absorbed. He confirmed Ryanair paid off its final €1.2 billion bond in May. The corporation is now debt-free and owns its roughly 620 aircraft outright, with about €2.8 billion in cash on hand. Sorahan pushed back on demand fears directly, telling CNBC, "No shortage of bookings. No shortage of people traveling, just travelers booking closer to departure.
#billion #fell
Two things drove the miss. Firstly, fares fell 6% as the Iran war made travelers nervous and pushed bookings closer to departure. Secondly, operating costs rose 11% because the 20% of Ryanair Holdings plc (NASDAQ:RYAAY)'s jet fuel that isn't hedged more than doubled in price, hitting $150 a barrel during the quarter. CEO Michael O'Leary said the conflict, EU jet-fuel supply concerns, and general economic uncertainty forced the airline to cut fares to fill seats. He gave no full-year profit guidance, calling second-quarter pricing "trending modestly down" YoY and noting zero visibility into the second half of the year.
That raises a real question. Is this just a short-term problem for Europe's strongest budget airline, or is it the beginning of a long period of low ticket prices that will last even after the war ends?
BULL CASE
Ryanair Holdings plc (NASDAQ:RYAAY)'s own earnings call is the strongest source for the bull case. CFO Neil Sorahan told CNBC the Middle East conflict will cause a capacity shakeout among weaker European airlines this winter, since carriers without Ryanair's cost base or balance sheet may fail or get absorbed. He confirmed Ryanair paid off its final €1.2 billion bond in May. The corporation is now debt-free and owns its roughly 620 aircraft outright, with about €2.8 billion in cash on hand. Sorahan pushed back on demand fears directly, telling CNBC, "No shortage of bookings. No shortage of people traveling, just travelers booking closer to departure.
#billion #fell
