Air Lease Corp (NYSE:AL) EVP Grant A. Levy sold 53,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $42.31, for a total transaction of $2,242,430.00. Following the completion of the transaction, the executive vice president now directly owns 217,373 shares of the company’s stock, valued at approximately $9,197,051.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NYSE:AL traded down $0.48 during trading hours on Friday, reaching $41.88. The company’s stock had a trading volume of 668,098 shares, compared to its average volume of 876,832. The company has a market capitalization of $4.63 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.92. Air Lease Corp has a 12 month low of $28.13 and a 12 month high of $46.61. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a 50 day moving average price of $40.24 and a two-hundred day moving average price of $38.41.
Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.17). The business had revenue of $471.40 million during the quarter, compared to the consensus estimate of $483.40 million. Air Lease had a return on equity of 11.16% and a net margin of 30.00%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. As a group, analysts predict that Air Lease Corp will post 5.23 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AL. Dimensional Fund Advisors LP boosted its stake in shares of Air Lease by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock worth $130,060,000 after buying an additional 289,140 shares during the last quarter. Geode Capital Management LLC raised its holdings in Air Lease by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,048,838 shares of the transportation company’s stock worth $31,685,000 after purchasing an additional 91,899 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Air Lease by 16.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,478 shares of the transportation company’s stock worth $188,000 after purchasing an additional 764 shares during the period. SG Americas Securities LLC bought a new position in Air Lease in the 1st quarter worth $594,000. Finally, HL Financial Services LLC raised its holdings in Air Lease by 3.3% in the 1st quarter. HL Financial Services LLC now owns 25,298 shares of the transportation company’s stock worth $869,000 after purchasing an additional 800 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.
AL has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a research note on Friday, August 2nd. Cowen reissued an “outperform” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Air Lease in a research note on Friday, August 9th. Finally, ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.80.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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