Krilogy Financial LLC Makes New Investment in Air Lease Corporation $AL

Krilogy Financial LLC bought a new position in shares of Air Lease Corporation (NYSE:AL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,853 shares of the transportation company’s stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Citizens Bank & Trust Co. boosted its stake in Air Lease by 198.0% during the second quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock worth $1,092,000 after buying an additional 12,402 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of Air Lease during the 2nd quarter worth $7,473,000. High Ground Investment Management LLP acquired a new position in shares of Air Lease during the 3rd quarter valued at about $34,957,000. Corton Capital Inc. purchased a new stake in shares of Air Lease in the second quarter valued at about $402,000. Finally, Voya Investment Management LLC increased its position in Air Lease by 104.3% during the third quarter. Voya Investment Management LLC now owns 35,641 shares of the transportation company’s stock worth $2,269,000 after purchasing an additional 18,195 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Barclays reissued an “equal weight” rating and set a $65.00 target price (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Air Lease currently has an average rating of “Hold” and an average price target of $59.17.

Insider Buying and Selling at Air Lease

In related news, EVP Kishore Korde sold 30,160 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the sale, the executive vice president directly owned 79,263 shares of the company’s stock, valued at $5,064,905.70. This represents a 27.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven F. Udvar-Hazy sold 64,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the sale, the director owned 74,000 shares in the company, valued at approximately $4,737,480. This trade represents a 46.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 692,185 shares of company stock valued at $44,301,155 in the last three months. 6.64% of the stock is owned by corporate insiders.

Air Lease Stock Performance

NYSE:AL opened at $64.74 on Friday. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.76. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $64.32 and a 200 day moving average price of $62.89. The stock has a market capitalization of $7.24 billion, a P/E ratio of 6.95, a PEG ratio of 0.56 and a beta of 1.13.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. Air Lease had a return on equity of 8.63% and a net margin of 35.72%.The company had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The company 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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. Air Lease’s payout ratio is currently 9.45%.

Air Lease 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.