AlphaQuest LLC Takes $546,000 Position in Air Lease Corporation $AL

AlphaQuest LLC bought a new position in shares of Air Lease Corporation (NYSE:AL) during the third quarter, HoldingsChannel.com reports. The firm bought 8,580 shares of the transportation company’s stock, valued at approximately $546,000.

Several other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Air Lease by 21.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after purchasing an additional 9,056 shares during the period. Millennium Management LLC increased 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 purchasing an additional 192,508 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Air Lease by 493.5% during the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock worth $429,000 after buying an additional 7,387 shares during the period. Goldman Sachs Group Inc. boosted its stake in Air Lease by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock worth $15,784,000 after buying an additional 15,629 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $14,410,000 after buying an additional 41,912 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Trading Down 0.0%

Shares of AL opened at $64.62 on Thursday. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.71. The stock’s 50-day moving average is $64.23 and its two-hundred day moving average is $62.55. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $7.22 billion, a PE ratio of 7.49, a P/E/G ratio of 0.56 and a beta of 1.13.

Air Lease (NYSE:AL) last announced its 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. The business had revenue of $725.39 million for the quarter, compared to the consensus estimate 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 was up 5.1% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Equities analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 1,000 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.30, for a total transaction of $64,300.00. Following the sale, the executive vice president owned 137,206 shares in the company, valued at $8,822,345.80. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the transaction, the director directly owned 1,391,366 shares in the company, valued at approximately $89,214,387.92. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 737,112 shares of company stock valued at $47,169,796 over the last 90 days. 6.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AL shares. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Barclays reaffirmed an “equal weight” rating and set a $65.00 price target (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Air Lease has a consensus rating of “Hold” and a consensus price target of $59.17.

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.