Parkside Investments LLC Has $10.75 Million Stock Holdings in Air Lease Corporation $AL

Parkside Investments LLC trimmed its stake in Air Lease Corporation (NYSE:AL) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,946 shares of the transportation company’s stock after selling 10,468 shares during the quarter. Air Lease makes up about 1.3% of Parkside Investments LLC’s portfolio, making the stock its 20th biggest holding. Parkside Investments LLC owned 0.15% of Air Lease worth $10,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Air Lease by 21.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock valued at $2,443,000 after buying an additional 9,056 shares in the last quarter. Millennium Management LLC lifted its stake in Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock valued at $9,855,000 after acquiring an additional 192,508 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock valued at $429,000 after acquiring an additional 7,387 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Air Lease by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after acquiring an additional 15,629 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Air Lease by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock valued at $14,410,000 after purchasing an additional 41,912 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Barclays reaffirmed an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.60.

Insider Transactions at Air Lease

In other Air Lease news, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the transaction, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. This trade represents a 29.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Plueger sold 155,821 shares of Air Lease stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 595,958 shares of company stock valued at $38,158,193. 6.80% of the stock is currently owned by company insiders.

Air Lease Stock Performance

Shares of NYSE AL opened at $64.89 on Wednesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. The stock’s fifty day moving average price is $64.42 and its two-hundred day moving average price is $63.42. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.96. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.54 and a beta of 1.13.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The company had revenue of $679.54 million during the quarter, compared to the consensus estimate of $782.67 million. During the same quarter last year, the firm earned $0.83 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio is presently 9.45%.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.