Air Lease (NYSE:AL) EVP Sells $545,491.00 in Stock

Air Lease Corporation (NYSE:AL) EVP Kishore Korde sold 8,510 shares of Air Lease stock in a transaction on Friday, December 12th. The shares were sold at an average price of $64.10, for a total value of $545,491.00. Following the completion of the transaction, the executive vice president owned 70,753 shares in the company, valued at $4,535,267.30. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 15th, Kishore Korde sold 20,662 shares of Air Lease stock. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20.
• On Tuesday, November 25th, Kishore Korde sold 30,160 shares of Air Lease stock. The shares were sold at an average price of $63.90, for a total value of $1,927,224.00.

Air Lease Stock Up 0.0%

Shares of NYSE:AL opened at $64.13 on Friday. The stock has a 50-day simple moving average of $63.82 and a 200-day simple moving average of $60.97. The stock has a market capitalization of $7.17 billion, a P/E ratio of 7.43 and a beta of 1.19. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.40. 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 posted its quarterly earnings results 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 firm had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same quarter last year, the firm posted $0.82 earnings per share. Air Lease’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors 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 of this dividend is Thursday, December 4th. Air Lease’s dividend payout ratio is 10.20%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently made changes to their positions in AL. AIA Group Ltd grew its position in shares of Air Lease by 60.7% during the third quarter. AIA Group Ltd now owns 60,282 shares of the transportation company’s stock worth $3,837,000 after buying an additional 22,775 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Air Lease during the 3rd quarter worth $840,000. Hudson Bay Capital Management LP bought a new stake in shares of Air Lease in the 3rd quarter worth about $1,284,000. Allworth Financial LP raised its stake in shares of Air Lease by 371.6% in the 3rd quarter. Allworth Financial LP now owns 2,226 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 1,754 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Air Lease during the third quarter worth about $38,000. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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.