Peregrine Capital Management LLC Sells 37,021 Shares of Air Lease Corporation $AL

Peregrine Capital Management LLC decreased its holdings in shares of Air Lease Corporation (NYSE:AL) by 27.1% in the second quarter, Holdings Channel.com reports. The firm owned 99,506 shares of the transportation company’s stock after selling 37,021 shares during the period. Peregrine Capital Management LLC’s holdings in Air Lease were worth $5,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Teacher Retirement System of Texas increased its stake in shares of Air Lease by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 16,122 shares of the transportation company’s stock valued at $943,000 after purchasing an additional 654 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Air Lease by 973.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 59,480 shares of the transportation company’s stock valued at $3,479,000 after purchasing an additional 53,940 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Air Lease by 198.0% during the second quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock valued at $1,092,000 after purchasing an additional 12,402 shares in the last quarter. Forum Financial Management LP bought a new position in shares of Air Lease during the second quarter valued at approximately $261,000. Finally, Ethic Inc. increased its stake in shares of Air Lease by 18.1% during the second quarter. Ethic Inc. now owns 47,149 shares of the transportation company’s stock valued at $2,768,000 after purchasing an additional 7,238 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AL shares. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Barclays reiterated an “overweight” rating and set a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Air Lease has an average rating of “Hold” and a consensus target price of $60.29.

Insider Buying and Selling

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of Air Lease stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $746,380. 6.80% of the stock is currently owned by insiders.

Air Lease Trading Up 0.0%

NYSE:AL opened at $63.60 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The company has a market cap of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a 50 day simple moving average of $62.81 and a two-hundred day simple moving average of $57.50.

Air Lease (NYSE:AL) last posted its earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 3rd. Air Lease’s payout ratio is 10.68%.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.