Air Lease Corp (NYSE:AL) EVP Grant A. Levy sold 10,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $43.88, for a total transaction of $438,800.00. Following the transaction, the executive vice president now owns 163,824 shares in the company, valued at approximately $7,188,597.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Air Lease Corp (NYSE:AL) opened at $43.75 on Tuesday. Air Lease Corp has a fifty-two week low of $34.21 and a fifty-two week high of $45.15. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53. The company has a market cap of $4,530.18, a P/E ratio of 12.57, a PEG ratio of 1.32 and a beta of 1.82.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The firm had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. During the same quarter in the prior year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts forecast that Air Lease Corp will post 3.44 EPS for the current year.
AL has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Air Lease in a report on Friday. They issued a “neutral” rating and a $46.00 price objective on the stock. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Royal Bank of Canada restated a “buy” rating and issued a $80.00 price objective on shares of Air Lease in a report on Thursday, November 2nd. Bank of America set a $47.00 price objective on shares of Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Credit Suisse Group upped their price objective on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Air Lease has an average rating of “Hold” and an average price target of $48.50.
Several large investors have recently bought and sold shares of the company. Cedar Hill Associates LLC bought a new position in Air Lease during the second quarter valued at approximately $7,768,000. LSV Asset Management lifted its position in Air Lease by 225.9% during the second quarter. LSV Asset Management now owns 266,183 shares of the transportation company’s stock valued at $9,944,000 after purchasing an additional 184,500 shares during the period. UBS Oconnor LLC bought a new position in Air Lease during the second quarter valued at approximately $6,818,000. Cobalt Capital Management Inc. lifted its position in Air Lease by 29.3% during the second quarter. Cobalt Capital Management Inc. now owns 771,629 shares of the transportation company’s stock valued at $28,828,000 after purchasing an additional 175,000 shares during the period. Finally, Boston Partners lifted its position in Air Lease by 2.0% during the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after purchasing an additional 169,454 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.
About Air Lease
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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