Invictus RG Takes $299,000 Position in Air Lease Corp (AL)

Invictus RG bought a new stake in shares of Air Lease Corp (NYSE:AL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,010 shares of the transportation company’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BB&T Securities LLC raised its holdings in Air Lease by 45.1% in the third quarter. BB&T Securities LLC now owns 13,156 shares of the transportation company’s stock worth $560,000 after buying an additional 4,090 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Air Lease by 11.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 394,517 shares of the transportation company’s stock worth $16,815,000 after acquiring an additional 41,883 shares during the period. Concourse Capital Management LLC bought a new stake in shares of Air Lease in the third quarter worth approximately $1,886,000. Legal & General Group Plc grew its stake in shares of Air Lease by 27.6% in the third quarter. Legal & General Group Plc now owns 75,362 shares of the transportation company’s stock worth $3,211,000 after acquiring an additional 16,288 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Air Lease by 3.0% in the third quarter. Oppenheimer & Co. Inc. now owns 130,021 shares of the transportation company’s stock worth $5,541,000 after acquiring an additional 3,831 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $44.99, for a total transaction of $89,980.00. Following the sale, the executive vice president now owns 82,410 shares of the company’s stock, valued at approximately $3,707,625.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jie Chen sold 52,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $45.00, for a total transaction of $2,340,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 379,000 shares of company stock valued at $15,919,270 over the last three months. 9.76% of the stock is currently owned by insiders.

Several analysts recently issued reports on AL shares. Royal Bank of Canada boosted their target price on shares of Air Lease from $79.00 to $80.00 and gave the company a “top pick” rating in a research report on Friday, September 29th. Bank of America set a $47.00 price target on shares of Air Lease and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Cowen boosted their target price on shares of Air Lease from $45.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, UBS Group boosted their target price on shares of Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Air Lease Corp (AL) traded down $0.22 during mid-day trading on Friday, hitting $48.09. 804,877 shares of the company’s stock traded hands, compared to its average volume of 735,303. The stock has a market capitalization of $4,987.53, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.82. Air Lease Corp has a 1-year low of $34.21 and a 1-year high of $48.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business had revenue of $376.77 million during the quarter, compared to analyst estimates of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. sell-side analysts expect that Air Lease Corp will post 3.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be given a $0.10 dividend. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, December 13th. Air Lease’s dividend payout ratio (DPR) is presently 11.46%.

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Air Lease Company 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.

Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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