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KINSTON, N.C. - flyExclusive, Inc. (NYSEAMERICAN: FLYX), a provider of premium private jet experiences with a market capitalization of $96.6 million and annual revenue of $335.4 million, is poised to join the 2025 Russell Indexes following its preliminary listing on May 23, 2025. The company is slated for inclusion in the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes, with finalization expected post-market close on June 28, 2025. According to InvestingPro analysis, the company’s shares have experienced significant volatility, trading 64% below their 52-week high of $8.39.
The Russell Indexes, managed by FTSE Russell, are critical benchmarks for investment strategies and are used for index funds by investment managers and institutional investors. As of June 2024, around $10.6 trillion in assets were benchmarked against these indexes. InvestingPro data reveals that flyExclusive’s financial health score currently stands at 1.17, labeled as ’WEAK’, with several concerning indicators including a low current ratio of 0.26.
Jim Segrave, Founder and CEO of flyExclusive, stated that the inclusion is a testament to the company’s dedication to performance and precision, marking a significant milestone in their business expansion and adherence to institutional-grade discipline in private aviation. Despite modest revenue growth of 5.38% in the last twelve months, InvestingPro analysis indicates several challenges ahead, with 8 additional key insights available to subscribers.
flyExclusive boasts one of the largest fleets of Cessna Citation jets globally, offering a range of private aviation services, including on-demand charter, Jet Club membership, and fractional ownership. The company emphasizes complete control over the customer experience, from in-house aircraft maintenance to cabin renovations, all from its headquarters in North Carolina.
FTSE Russell, the index provider, is a leader in global index services, offering benchmarking and analytics across more than 70 countries. FTSE Russell is a London Stock Exchange Group company, with approximately $18.1 trillion benchmarked to its indexes.
The inclusion of flyExclusive in the Russell Indexes is subject to the final review and reconstitution process. This development is based on a press release statement from the company.
In other recent news, flyExclusive reported a strong fourth-quarter revenue of $91.4 million, surpassing BTIG’s estimate of $87.6 million. The company achieved a gross margin of 17.9%, higher than the anticipated 15.8%, although higher selling, general, and administrative expenses led to an adjusted EBITDA loss of $6.1 million, matching BTIG’s forecast. flyExclusive is addressing underperforming aircraft in its fleet, having removed 20 planes, with plans to retain fewer than 8 by mid-2025. This strategic move is expected to significantly reduce the negative impact on EBITDA. Additionally, flyExclusive launched a new Jet Club membership, offering locked-in rates for 24 months and guaranteed fleet access, including the Challenger 300 and 350 aircraft. The membership promises no blackout dates and exclusive discounts, aiming to provide a straightforward pricing model. BTIG analyst Marvin Fong maintained a Neutral rating on flyExclusive, noting the potential for EBITDA improvement with the addition of more Challenger jets. The company has seen a 19% sequential rise in jet club membership and a 29% increase in departures in December. These developments indicate a promising trajectory for flyExclusive amidst policy uncertainties affecting fractional sales.
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