Willis Lease Finance Co. (NASDAQ:WLFC) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 22,000 shares, a drop of 12.7% from the September 30th total of 25,200 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 10,600 shares, the days-to-cover ratio is currently 2.1 days.
Separately, ValuEngine lowered Willis Lease Finance from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alambic Investment Management L.P. bought a new stake in shares of Willis Lease Finance during the 2nd quarter worth $467,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Willis Lease Finance by 6.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,050 shares of the transportation company’s stock worth $1,461,000 after acquiring an additional 1,500 shares during the last quarter. First Trust Advisors LP raised its position in shares of Willis Lease Finance by 8.9% during the second quarter. First Trust Advisors LP now owns 5,752 shares of the transportation company’s stock worth $335,000 after acquiring an additional 472 shares during the last quarter. BlackRock Inc. grew its stake in Willis Lease Finance by 16.4% during the second quarter. BlackRock Inc. now owns 187,166 shares of the transportation company’s stock worth $10,915,000 after purchasing an additional 26,375 shares during the period. Finally, Bank of America Corp DE grew its stake in Willis Lease Finance by 49.9% during the second quarter. Bank of America Corp DE now owns 40,667 shares of the transportation company’s stock worth $2,371,000 after purchasing an additional 13,539 shares during the period. 38.21% of the stock is currently owned by institutional investors.
Shares of WLFC opened at $59.94 on Friday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.68 and a current ratio of 2.30. The stock has a 50 day simple moving average of $56.36 and a 200 day simple moving average of $57.21. Willis Lease Finance has a 52-week low of $31.80 and a 52-week high of $74.46. The firm has a market capitalization of $353.72 million, a PE ratio of 4.75 and a beta of 0.62.
About Willis Lease Finance
Willis Lease Finance Corporation, together with its subsidiaries, leases and services commercial aircraft and aircraft engines worldwide. The company operates through two segments, Leasing and Related Operations, and Spare Parts Sales. It also purchases and resells commercial aircraft engines; and sells aircraft engine parts and materials.
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