50,276 Shares in Air Lease Corporation $AL Purchased by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL purchased a new stake in shares of Air Lease Corporation (NYSE:AL) in the second quarter, Holdings Channel reports. The firm purchased 50,276 shares of the transportation company’s stock, valued at approximately $2,941,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AL. Jump Financial LLC bought a new stake in shares of Air Lease in the 2nd quarter worth approximately $2,168,000. Cary Street Partners Investment Advisory LLC bought a new position in Air Lease during the second quarter valued at $201,000. Cresset Asset Management LLC increased its position in Air Lease by 4.4% in the second quarter. Cresset Asset Management LLC now owns 11,754 shares of the transportation company’s stock worth $690,000 after buying an additional 495 shares during the last quarter. Amundi raised its stake in shares of Air Lease by 114.8% in the second quarter. Amundi now owns 92,363 shares of the transportation company’s stock valued at $5,443,000 after buying an additional 49,354 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Air Lease in the second quarter valued at $1,462,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report 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. Zacks Research downgraded shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Four research 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 MarketBeat.com, Air Lease presently has a consensus rating of “Hold” and an average price target of $59.50.

Insider Buying and Selling at Air Lease

In other news, EVP Kishore Korde sold 30,160 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the transaction, the executive vice president directly owned 79,263 shares of the company’s stock, valued at approximately $5,064,905.70. This trade represents a 27.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven F. Udvar-Hazy sold 42,700 shares of Air Lease stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.02, for a total value of $2,733,654.00. Following the completion of the transaction, the director directly owned 1,300 shares in the company, valued at $83,226. This trade represents a 97.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 330,168 shares of company stock valued at $21,099,874 over the last ninety days. Insiders own 6.80% of the company’s stock.

Air Lease Trading Down 0.2%

NYSE AL opened at $63.99 on Wednesday. The stock’s 50-day simple moving average is $63.76 and its two-hundred day simple moving average is $60.71. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 7.41 and a beta of 1.19.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The firm 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 company’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. Research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is presently 10.20%.

About Air Lease

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.