Raffles Associates LP Buys Shares of 460,000 AerSale Corporation $ASLE

Raffles Associates LP purchased a new stake in shares of AerSale Corporation (NASDAQ:ASLE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 460,000 shares of the company’s stock, valued at approximately $2,907,000. AerSale accounts for about 2.4% of Raffles Associates LP’s holdings, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in AerSale by 100.7% during the fourth quarter. CWM LLC now owns 6,393 shares of the company’s stock valued at $45,000 after acquiring an additional 3,208 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock worth $55,000 after purchasing an additional 2,477 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of AerSale during the 2nd quarter valued at about $65,000. KLCM Advisors Inc. bought a new stake in shares of AerSale during the 4th quarter valued at about $71,000. Finally, HRT Financial LP bought a new stake in shares of AerSale during the 4th quarter valued at about $75,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

AerSale Stock Performance

NASDAQ:ASLE opened at $5.65 on Friday. The stock has a 50-day simple moving average of $6.11 and a two-hundred day simple moving average of $6.48. AerSale Corporation has a 52-week low of $5.52 and a 52-week high of $8.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 3.27. The firm has a market capitalization of $269.67 million, a PE ratio of -70.62 and a beta of 0.28.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%.The company had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. Analysts forecast that AerSale Corporation will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ASLE shares. B. Riley Financial began coverage on shares of AerSale in a research note on Monday, June 29th. They issued a “neutral” rating and a $7.50 price objective on the stock. Wall Street Zen lowered shares of AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a report on Wednesday, August 12th. Royal Bank Of Canada decreased their price target on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of AerSale to a “hold” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $6.83.

Insider Activity at AerSale

In other AerSale news, insider Martin Garmendia sold 6,094 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the sale, the insider owned 183,377 shares in the company, valued at approximately $1,162,610.18. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frederick Craig Wright sold 4,182 shares of AerSale stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $26,513.88. Following the transaction, the insider directly owned 213,531 shares in the company, valued at $1,353,786.54. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 21,316 shares of company stock worth $135,160. 20.10% of the stock is owned by company insiders.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.