AerCap Holdings (AER) Short Interest Update
AerCap Holdings (NYSE:AER) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 10,072,514 shares, a growth of 45.0% from the November 30th total of 6,947,313 shares. Based on an average trading volume of 1,316,069 shares, the days-to-cover ratio is currently 7.7 days. Approximately 7.9% of the company’s stock are sold short.
A number of hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its holdings in shares of AerCap by 7.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,320,387 shares of the financial services provider’s stock valued at $169,705,000 after acquiring an additional 230,716 shares during the period. California Public Employees Retirement System increased its holdings in shares of AerCap by 4.2% in the 3rd quarter. California Public Employees Retirement System now owns 357,344 shares of the financial services provider’s stock valued at $18,264,000 after acquiring an additional 14,544 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of AerCap by 3.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,883 shares of the financial services provider’s stock valued at $1,681,000 after acquiring an additional 1,050 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of AerCap by 303.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 242,166 shares of the financial services provider’s stock valued at $12,377,000 after acquiring an additional 182,166 shares during the period. Finally, Mangrove Partners acquired a new position in shares of AerCap in the 3rd quarter valued at $6,287,000. 85.72% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on AER. Zacks Investment Research downgraded shares of AerCap from a “hold” rating to a “strong sell” rating in a research note on Tuesday. UBS Group lifted their price target on shares of AerCap from $44.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. Citigroup began coverage on shares of AerCap in a research note on Friday, December 8th. They issued a “neutral” rating and a $57.00 price target for the company. Cowen reiterated a “buy” rating and issued a $55.00 price target on shares of AerCap in a research note on Thursday, October 12th. Finally, Wells Fargo & Co set a $62.00 price target on shares of AerCap and gave the stock a “buy” rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. AerCap presently has a consensus rating of “Buy” and an average price target of $57.30.
AerCap (NYSE:AER) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.15. AerCap had a net margin of 22.84% and a return on equity of 13.84%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts expect that AerCap will post 6.14 EPS for the current year.
AerCap announced that its board has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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