Concourse Capital Management LLC Takes $1.89 Million Position in Air Lease Corporation (AL)

Concourse Capital Management LLC bought a new position in Air Lease Corporation (NYSE:AL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 44,255 shares of the transportation company’s stock, valued at approximately $1,886,000.

A number of other large investors have also modified their holdings of the business. Boston Partners increased its position in shares of Air Lease by 2.0% during the 3rd quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after purchasing an additional 169,454 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Air Lease by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock valued at $282,076,000 after purchasing an additional 95,981 shares during the last quarter. Capital Research Global Investors increased its position in shares of Air Lease by 3.3% during the 2nd quarter. Capital Research Global Investors now owns 4,208,000 shares of the transportation company’s stock valued at $157,211,000 after purchasing an additional 136,000 shares during the last quarter. State Street Corp increased its position in shares of Air Lease by 1.5% during the 2nd quarter. State Street Corp now owns 1,349,037 shares of the transportation company’s stock valued at $50,398,000 after purchasing an additional 19,548 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Air Lease by 15.8% during the 2nd quarter. Northern Trust Corp now owns 1,118,964 shares of the transportation company’s stock valued at $41,804,000 after purchasing an additional 152,984 shares during the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.

In other Air Lease news, CEO John L. Plueger sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total value of $12,402,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,057,310 shares in the company, valued at approximately $43,709,195.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jie Chen sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.82, for a total value of $87,640.00. The disclosure for this sale can be found here. Insiders sold a total of 319,000 shares of company stock valued at $13,183,240 over the last 90 days. 9.76% of the stock is currently owned by corporate insiders.

Air Lease Corporation (NYSE:AL) opened at $41.76 on Monday. The stock has a market capitalization of $4,311.30, a P/E ratio of 11.97, a P/E/G ratio of 1.25 and a beta of 1.83. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06. Air Lease Corporation has a 52 week low of $34.21 and a 52 week high of $45.15.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The company had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. During the same period in the previous year, the company posted $1.43 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. research analysts predict that Air Lease Corporation will post 3.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.96%. This is an increase from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. Air Lease’s dividend payout ratio is presently 8.60%.

A number of brokerages recently issued reports on AL. Royal Bank Of Canada reiterated a “buy” rating and set a $80.00 price objective on shares of Air Lease in a research note on Thursday, November 2nd. Bank of America Corporation set a $47.00 price objective on Air Lease and gave the company a “hold” rating in a research note on Thursday, October 19th. Credit Suisse Group boosted their price objective on Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. UBS AG boosted their price objective on Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Friday, November 10th. Finally, Cowen Inc boosted their price objective on Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $48.78.

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About Air Lease

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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