Insider Selling: Air Lease Corp (NYSE:AL) EVP Sells 5,000 Shares of Stock
Air Lease Corp (NYSE:AL) EVP Marc H. Baer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total value of $221,700.00. Following the transaction, the executive vice president now directly owns 130,008 shares in the company, valued at $5,764,554.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Air Lease stock traded up $1.42 during trading on Wednesday, reaching $44.79. 830,393 shares of the stock were exchanged, compared to its average volume of 878,109. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.43. The stock’s fifty day moving average is $40.39 and its 200 day moving average is $38.52. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 0.80 and a beta of 1.92. Air Lease Corp has a 1 year low of $28.13 and a 1 year high of $46.61.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.17). Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The business had revenue of $471.40 million for the quarter, compared to the consensus estimate of $483.40 million. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities analysts forecast that Air Lease Corp will post 5.23 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of AL. Permanens Capital L.P. purchased a new stake in Air Lease in the first quarter worth $26,000. Parallel Advisors LLC boosted its holdings in Air Lease by 1,196.6% in the second quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 706 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Air Lease during the 2nd quarter valued at $32,000. NumerixS Investment Technologies Inc purchased a new position in Air Lease during the 2nd quarter valued at $54,000. Finally, SeaBridge Investment Advisors LLC increased its position in shares of Air Lease by 50.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock valued at $62,000 after buying an additional 500 shares during the period. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. ValuEngine downgraded Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Cowen restated an “outperform” rating and set a $49.00 price target (down from $50.00) on shares of Air Lease in a research report on Friday, August 9th. 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 research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.80.
Air Lease Company Profile
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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