Kishore Korde Sells 30,160 Shares of Air Lease (NYSE:AL) Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 30,160 shares of Air Lease stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the sale, the executive vice president directly owned 79,263 shares of the company’s stock, valued at $5,064,905.70. This represents a 27.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Air Lease Trading Up 0.0%

AL traded up $0.01 during trading on Wednesday, hitting $63.86. 2,057,634 shares of the stock were exchanged, compared to its average volume of 1,339,733. The firm has a 50 day simple moving average of $63.68 and a 200 day simple moving average of $60.24. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 7.75, a P/E/G ratio of 0.66 and a beta of 1.36. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. As a group, equities analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s payout ratio is currently 10.20%.

Wall Street Analysts Forecast Growth

AL has been the subject of several research reports. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AL. Brooklyn Investment Group lifted its holdings in shares of Air Lease by 152.4% in the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after buying an additional 355 shares during the period. True Wealth Design LLC raised its position in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 447 shares in the last quarter. Mather Group LLC. acquired a new position in Air Lease in the third quarter valued at approximately $29,000. First Horizon Corp purchased a new stake in Air Lease in the 3rd quarter worth approximately $31,000. Finally, Parkside Financial Bank & Trust boosted its position in Air Lease by 273.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Company 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.