Insider Selling: Air Lease (NYSE:AL) EVP Sells 20,662 Shares of Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 20,662 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the transaction, the executive vice president directly owned 50,091 shares in the company, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kishore Korde also recently made the following trade(s):

• On Friday, December 12th, Kishore Korde sold 8,510 shares of Air Lease stock. The stock was sold at an average price of $64.10, for a total value of $545,491.00.
• On Tuesday, November 25th, Kishore Korde sold 30,160 shares of Air Lease stock. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00.

Air Lease Stock Down 0.0%

Shares of Air Lease stock traded down $0.03 during midday trading on Tuesday, reaching $64.22. 1,144,588 shares of the company’s stock traded hands, compared to its average volume of 2,194,240. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 7.44 and a beta of 1.19. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.40. The company’s 50 day simple moving average is $63.80 and its 200 day simple moving average is $60.93. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The company 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 7.84% and a net margin of 35.08%.The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed 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 dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s dividend payout ratio is currently 10.20%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AL. Brooklyn Investment Group grew its stake 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 purchasing an additional 355 shares during the period. True Wealth Design LLC grew its holdings in shares of Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after purchasing an additional 447 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Air Lease during the 3rd quarter worth about $29,000. First Horizon Corp acquired a new position in Air Lease in the third quarter valued at about $31,000. Finally, Parkside Financial Bank & Trust grew its position in Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after acquiring an additional 407 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Ratings Changes

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

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.