Oppenheimer Asset Management Inc. Makes New Investment in Air Lease Corp (NYSE:AL)
Oppenheimer Asset Management Inc. bought a new position in shares of Air Lease Corp (NYSE:AL) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,858 shares of the transportation company’s stock, valued at approximately $242,000.
Other large investors have also recently added to or reduced their stakes in the company. Permanens Capital L.P. bought a new position in Air Lease during the 1st quarter worth approximately $26,000. Parallel Advisors LLC lifted its holdings in Air Lease by 1,196.6% during the 2nd quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock worth $32,000 after buying an additional 706 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Air Lease during the 2nd quarter worth approximately $32,000. SeaBridge Investment Advisors LLC lifted its holdings in Air Lease by 50.0% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock worth $62,000 after buying an additional 500 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Air Lease by 92.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,081 shares of the transportation company’s stock worth $86,000 after buying an additional 1,000 shares during the last quarter. 91.67% of the stock is currently owned by institutional investors.
Shares of NYSE AL traded down $0.15 during mid-day trading on Friday, hitting $44.73. The company had a trading volume of 9,360 shares, compared to its average volume of 687,609. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.80 and a beta of 1.92. Air Lease Corp has a 12 month low of $28.13 and a 12 month high of $46.61. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $40.45 and its two-hundred day simple moving average is $38.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Sunday, September 15th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 12th. Air Lease’s dividend payout ratio (DPR) is 11.30%.
Several analysts recently issued reports on AL shares. Zacks Investment Research downgraded Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Friday, August 2nd. ValuEngine downgraded Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Cowen reissued an “outperform” rating and issued a $49.00 price target (down previously from $50.00) on shares of Air Lease in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.80.
In other Air Lease news, Director Jie Chen sold 50,000 shares of Air Lease stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $43.00, for a total transaction of $2,150,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Grant A. Levy sold 53,000 shares of Air Lease stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $42.31, for a total value of $2,242,430.00. Following the sale, the executive vice president now directly owns 217,373 shares in the company, valued at approximately $9,197,051.63. The disclosure for this sale can be found here. In the last three months, insiders sold 911,649 shares of company stock worth $35,904,901. Company insiders own 8.76% of the company’s stock.
Air Lease 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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