Parkside Investments LLC grew its holdings in Air Lease Corp (NYSE:AL) by 4.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,945 shares of the transportation company’s stock after purchasing an additional 5,370 shares during the period. Air Lease comprises approximately 1.4% of Parkside Investments LLC’s investment portfolio, making the stock its 20th biggest holding. Parkside Investments LLC owned approximately 0.12% of Air Lease worth $5,537,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Permanens Capital L.P. acquired a new stake in shares of Air Lease in the first quarter valued at approximately $26,000. Osborn Williams & Donohoe LLC acquired a new position in Air Lease during the first quarter worth $38,000. SeaBridge Investment Advisors LLC increased its holdings in Air Lease by 50.0% during the second 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. Private Capital Group LLC increased its holdings in Air Lease by 204.5% during the first quarter. Private Capital Group LLC now owns 2,183 shares of the transportation company’s stock worth $75,000 after buying an additional 1,466 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in Air Lease by 10.3% during the first quarter. ETF Managers Group LLC now owns 3,376 shares of the transportation company’s stock worth $116,000 after buying an additional 316 shares during the last quarter. Institutional investors own 85.49% of the company’s stock.
AL traded up $0.76 during trading on Friday, reaching $38.71. 43,062 shares of the stock were exchanged, compared to its average volume of 861,804. The stock has a market cap of $4.35 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.95. Air Lease Corp has a twelve month low of $28.13 and a twelve month high of $47.34. The stock’s 50 day moving average price is $40.79 and its two-hundred day moving average price is $38.19. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.81 and a current ratio of 0.64.
Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.17). Air Lease had a return on equity of 11.16% and a net margin of 30.00%. The company had revenue of $471.40 million for the quarter, compared to the consensus estimate of $483.40 million. During the same period last year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities research analysts predict that Air Lease Corp will post 5.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.34%. Air Lease’s dividend payout ratio (DPR) is 11.30%.
In other Air Lease news, insider Steven F. Udvar-Hazy sold 507,789 shares of Air Lease stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.58, for a total transaction of $19,590,499.62. Following the completion of the transaction, the insider now directly owns 1,334,842 shares of the company’s stock, valued at $51,498,204.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven F. Udvar-Hazy sold 249,991 shares of Air Lease stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $39.25, for a total transaction of $9,812,146.75. Following the transaction, the chairman now directly owns 1,334,842 shares of the company’s stock, valued at $52,392,548.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 887,780 shares of company stock valued at $34,186,646. Company insiders own 8.76% of the company’s stock.
A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a report on Friday, August 2nd. Finally, Cowen restated an “outperform” rating and set a $49.00 target price (down from $50.00) on shares of Air Lease in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.33.
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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