Quantamental Technologies LLC lessened its stake in shares of Air Lease Corp (NYSE:AL) by 28.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,798 shares of the transportation company’s stock after selling 5,869 shares during the quarter. Quantamental Technologies LLC’s holdings in Air Lease were worth $508,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Air Lease by 7.8% during the fourth quarter. BlackRock Inc. now owns 4,330,216 shares of the transportation company’s stock valued at $130,815,000 after purchasing an additional 313,018 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Air Lease by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock worth $130,060,000 after acquiring an additional 289,140 shares in the last quarter. Royce & Associates LP increased its position in shares of Air Lease by 19.3% during the fourth quarter. Royce & Associates LP now owns 3,062,172 shares of the transportation company’s stock worth $92,508,000 after acquiring an additional 495,858 shares in the last quarter. Ellis Investment Partners LLC increased its position in shares of Air Lease by 3,293.8% during the first quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock worth $2,259,000 after acquiring an additional 2,193,019 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Air Lease by 6.8% during the first quarter. Douglas Lane & Associates LLC now owns 1,366,987 shares of the transportation company’s stock worth $46,956,000 after acquiring an additional 87,266 shares in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Air Lease stock traded down $0.45 on Wednesday, reaching $37.42. 816,774 shares of the company traded hands, compared to its average volume of 934,991. Air Lease Corp has a 52 week low of $28.13 and a 52 week high of $47.34. The company has a market capitalization of $4.21 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.91 and a beta of 2.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.29.
Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, May 9th. The transportation company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.01. The company had revenue of $466.00 million for the quarter, compared to analysts’ expectations of $456.91 million. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. Air Lease’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Equities analysts expect that Air Lease Corp will post 5.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s payout ratio is currently 11.30%.
In other Air Lease news, CEO John L. Plueger sold 50,671 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $38.59, for a total value of $1,955,393.89. Following the sale, the chief executive officer now directly owns 914,145 shares in the company, valued at approximately $35,276,855.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John L. Plueger sold 395,806 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the completion of the sale, the chief executive officer now owns 914,145 shares in the company, valued at $34,883,773.20. The disclosure for this sale can be found here. Corporate insiders own 8.76% of the company’s stock.
Several research firms have recently commented on AL. Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. TheStreet raised shares of Air Lease from a “c+” rating to a “b-” rating in a research report on Wednesday, January 30th. ValuEngine raised shares of Air Lease from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Goldman Sachs Group began coverage on shares of Air Lease in a research report on Monday, April 8th. They issued a “buy” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $55.56.
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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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