Fly Leasing Limited (FLY) Downgraded to Hold at ValuEngine

Fly Leasing Limited (NYSE:FLY) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

FLY has been the subject of a number of other reports. Cowen and Company reiterated a “buy” rating and set a $16.00 price target on shares of Fly Leasing Limited in a report on Tuesday, September 19th. Compass Point reissued a “buy” rating and set a $19.00 target price (up previously from $17.00) on shares of Fly Leasing Limited in a research note on Tuesday, October 3rd. Zacks Investment Research lowered Fly Leasing Limited from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, BidaskClub lowered Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.60.

Fly Leasing Limited (NYSE:FLY) traded up $0.15 during midday trading on Friday, hitting $13.45. The stock had a trading volume of 60,630 shares, compared to its average volume of 135,603. The stock has a market cap of $390.00, a PE ratio of 11.61, a PEG ratio of 2.60 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.74. Fly Leasing Limited has a fifty-two week low of $11.91 and a fifty-two week high of $14.65.

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Several hedge funds have recently made changes to their positions in the business. Uniplan Investment Counsel Inc. grew its stake in shares of Fly Leasing Limited by 6.5% in the 3rd quarter. Uniplan Investment Counsel Inc. now owns 545,990 shares of the transportation company’s stock valued at $7,654,000 after purchasing an additional 33,231 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Fly Leasing Limited by 4.7% in the 3rd quarter. Gabelli Funds LLC now owns 319,301 shares of the transportation company’s stock valued at $4,477,000 after buying an additional 14,301 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Fly Leasing Limited by 2.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 292,338 shares of the transportation company’s stock valued at $4,099,000 after buying an additional 8,190 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Fly Leasing Limited by 44.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock valued at $3,335,000 after buying an additional 75,926 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Fly Leasing Limited by 630.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock valued at $2,609,000 after buying an additional 167,430 shares during the period. Institutional investors own 45.88% of the company’s stock.

About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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