Reinhart Partners Inc. cut its stake in Air Lease Corp (NYSE:AL) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,070 shares of the transportation company’s stock after selling 30,770 shares during the period. Reinhart Partners Inc.’s holdings in Air Lease were worth $2,408,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nationwide Fund Advisors boosted its holdings in Air Lease by 45.4% in the second quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock worth $1,258,000 after purchasing an additional 10,517 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Air Lease by 18.9% during the third quarter. Prudential Financial Inc. now owns 255,979 shares of the transportation company’s stock valued at $10,910,000 after acquiring an additional 40,769 shares during the period. BB&T Securities LLC boosted its holdings in shares of Air Lease by 45.1% during the third quarter. BB&T Securities LLC now owns 13,156 shares of the transportation company’s stock valued at $560,000 after acquiring an additional 4,090 shares during the period. Zweig DiMenna Associates LLC boosted its holdings in shares of Air Lease by 90.4% during the third quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the transportation company’s stock valued at $6,688,000 after acquiring an additional 74,500 shares during the period. Finally, Opera Trading Capital boosted its holdings in shares of Air Lease by 8.5% during the third quarter. Opera Trading Capital now owns 123,809 shares of the transportation company’s stock valued at $5,277,000 after acquiring an additional 9,709 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.
Shares of Air Lease Corp (NYSE:AL) traded up $1.32 during midday trading on Wednesday, hitting $45.92. The company had a trading volume of 839,292 shares, compared to its average volume of 647,596. The company has a market cap of $4,740.00, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.70. Air Lease Corp has a 1-year low of $34.42 and a 1-year high of $50.70. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, January 9th. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Citigroup began coverage on shares of Air Lease in a research report on Friday, December 8th. They issued a “neutral” rating and a $46.00 price target on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price target on shares of Air Lease in a research report on Thursday, November 2nd. Finally, Bank of America set a $47.00 price objective on Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.40.
In related news, EVP Grant A. Levy sold 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $43.88, for a total value of $438,800.00. Following the completion of the transaction, the executive vice president now directly owns 163,824 shares in the company, valued at $7,188,597.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jie Chen sold 2,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $43.30, for a total value of $86,600.00. The disclosure for this sale can be found here. Insiders have sold 81,000 shares of company stock valued at $3,661,430 in the last ninety days. Company insiders own 9.76% of the company’s stock.
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Air Lease Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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