Short Interest in Air Lease Co. (NYSE:AL) Drops By 12.2%

Air Lease Co. (NYSE:AL) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 3,100,000 shares, a decline of 12.2% from the April 30th total of 3,530,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 3.0% of the shares of the company are sold short.

Air Lease Price Performance

NYSE:AL opened at $57.08 on Friday. The business’s 50-day moving average price is $49.88 and its 200 day moving average price is $48.55. The firm has a market cap of $6.38 billion, a P/E ratio of 17.14, a PEG ratio of 1.33 and a beta of 1.36. Air Lease has a 52-week low of $38.25 and a 52-week high of $59.27. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.27. The firm had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Air Lease’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts predict that Air Lease will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.54%. Air Lease’s dividend payout ratio is currently 15.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AL shares. Citigroup upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and cut their price objective for the company from $72.00 to $50.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Air Lease from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.43.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president now owns 146,316 shares in the company, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.64% of the company’s stock.

Hedge Funds Weigh In On Air Lease

A number of institutional investors have recently bought and sold shares of AL. Alpine Bank Wealth Management purchased a new position in Air Lease in the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Air Lease during the 4th quarter valued at about $28,000. Brooklyn Investment Group grew its stake in Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 355 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Air Lease during the 4th quarter valued at about $31,000. Finally, Engine Capital Management LP purchased a new position in Air Lease during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

About Air Lease

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.