Acadian Asset Management LLC reduced its stake in Fly Leasing Limited (NYSE:FLY) by 43.3% during the second quarter, Holdings Channel reports. The institutional investor owned 26,207 shares of the transportation company’s stock after selling 20,044 shares during the period. Acadian Asset Management LLC’s holdings in Fly Leasing Limited were worth $352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Fly Leasing Limited by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock valued at $170,000 after buying an additional 817 shares in the last quarter. Morgan Stanley raised its position in Fly Leasing Limited by 9.0% in the first quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock valued at $15,312,000 after buying an additional 96,040 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Fly Leasing Limited by 2.9% in the first quarter. Donald Smith & CO. Inc. now owns 3,212,478 shares of the transportation company’s stock valued at $42,148,000 after buying an additional 91,144 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in Fly Leasing Limited by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 144,780 shares of the transportation company’s stock valued at $1,900,000 after buying an additional 566 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Fly Leasing Limited by 42.2% in the first quarter. Bank of Montreal Can now owns 202,980 shares of the transportation company’s stock valued at $2,663,000 after buying an additional 60,255 shares in the last quarter. Institutional investors and hedge funds own 50.48% of the company’s stock.

Fly Leasing Limited (FLY) traded up 1.79% on Tuesday, hitting $13.65. The stock had a trading volume of 94,974 shares. The company has a 50 day moving average of $13.75 and a 200 day moving average of $13.37. The company’s market capitalization is $411.88 million. Fly Leasing Limited has a 12-month low of $11.41 and a 12-month high of $14.45.

Fly Leasing Limited (NYSE:FLY) last posted its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $79.21 million during the quarter, compared to the consensus estimate of $83.17 million. Fly Leasing Limited had a positive return on equity of 11.19% and a negative net margin of 9.68%. Fly Leasing Limited’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities analysts expect that Fly Leasing Limited will post $1.12 earnings per share for the current year.

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FLY has been the topic of several recent research reports. Zacks Investment Research lowered Fly Leasing Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. ValuEngine lowered Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Fly Leasing Limited in a research report on Friday, April 21st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.10.

Fly Leasing Limited Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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Institutional Ownership by Quarter for Fly Leasing Limited (NYSE:FLY)

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