Insider Selling: Air Lease (NYSE:AL) EVP Sells 1,000 Shares of Stock

Air Lease Corporation (NYSE:AL) EVP Grant Levy sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the transaction, the executive vice president owned 137,206 shares of the company’s stock, valued at approximately $8,822,345.80. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Air Lease Stock Performance

NYSE:AL traded down $0.03 during midday trading on Tuesday, hitting $64.22. The company’s stock had a trading volume of 1,144,588 shares, compared to its average volume of 2,194,240. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.40. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $7.18 billion, a P/E ratio of 7.44 and a beta of 1.19. The firm’s 50 day moving average is $63.80 and its 200-day moving average is $60.93.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. During the same period in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is 10.20%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AL. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Zacks Research downgraded Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.50.

Hedge Funds Weigh In On Air Lease

Hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Air Lease in the third quarter worth approximately $840,000. Hudson Bay Capital Management LP purchased a new stake in shares of Air Lease during the third quarter worth $1,284,000. Allworth Financial LP grew its holdings in shares of Air Lease by 371.6% during the third quarter. Allworth Financial LP now owns 2,226 shares of the transportation company’s stock worth $142,000 after buying an additional 1,754 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Air Lease during the 3rd quarter worth approximately $38,000. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of Air Lease during the 3rd quarter valued at approximately $305,000. Hedge funds and other institutional investors 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.