Air Lease Corp (NYSE:AL) EVP Marc H. Baer sold 5,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total transaction of $221,700.00. Following the completion of the sale, the executive vice president now owns 130,008 shares of the company’s stock, valued at approximately $5,764,554.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
NYSE:AL traded up $1.42 during trading hours on Wednesday, reaching $44.79. The stock had a trading volume of 830,393 shares, compared to its average volume of 878,109. 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 simple moving average of $40.39 and a 200 day simple moving average of $38.52. Air Lease Corp has a 12-month low of $28.13 and a 12-month high of $46.61. The stock has a market cap of $4.79 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.80 and a beta of 1.92.
Air Lease (NYSE:AL) last issued its earnings results on Thursday, August 8th. The transportation company reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.17). Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The firm had revenue of $471.40 million during the quarter, compared to the consensus estimate of $483.40 million. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities analysts expect that Air Lease Corp will post 5.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Sunday, September 15th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, September 12th. Air Lease’s dividend payout ratio (DPR) is currently 11.30%.
A number of institutional investors and hedge funds have recently made changes to their positions in AL. Geode Capital Management LLC raised its holdings in Air Lease by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,048,838 shares of the transportation company’s stock valued at $31,685,000 after acquiring an additional 91,899 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Air Lease by 16.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,478 shares of the transportation company’s stock valued at $188,000 after purchasing an additional 764 shares during the period. SG Americas Securities LLC bought a new stake in shares of Air Lease during the 1st quarter valued at $594,000. Stevens Capital Management LP lifted its holdings in Air Lease by 7.3% during the 1st quarter. Stevens Capital Management LP now owns 31,474 shares of the transportation company’s stock worth $1,081,000 after purchasing an additional 2,131 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. lifted its holdings in Air Lease by 24.0% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 11,584 shares of the transportation company’s stock worth $398,000 after purchasing an additional 2,243 shares in the last quarter. 91.67% of the stock is owned by institutional investors.
AL has been the topic of a number of research analyst reports. Cowen restated an “outperform” rating and issued a $49.00 target price (down previously from $50.00) on shares of Air Lease in a research note on Friday, August 9th. ValuEngine downgraded Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.80.
About Air Lease
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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