Cedar Hill Associates LLC Sells 8,875 Shares of Air Lease Corp (AL)
Cedar Hill Associates LLC trimmed its stake in Air Lease Corp (NYSE:AL) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,990 shares of the transportation company’s stock after selling 8,875 shares during the period. Air Lease comprises approximately 1.6% of Cedar Hill Associates LLC’s investment portfolio, making the stock its 24th biggest position. Cedar Hill Associates LLC owned approximately 0.19% of Air Lease worth $9,233,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in Air Lease during the 4th quarter worth about $455,000. Jane Street Group LLC grew its holdings in Air Lease by 77.2% during the 4th quarter. Jane Street Group LLC now owns 57,829 shares of the transportation company’s stock worth $2,781,000 after acquiring an additional 25,203 shares during the period. Paloma Partners Management Co acquired a new stake in Air Lease during the 4th quarter worth about $280,000. Two Sigma Investments LP grew its holdings in Air Lease by 196.4% during the 4th quarter. Two Sigma Investments LP now owns 278,917 shares of the transportation company’s stock worth $13,413,000 after acquiring an additional 184,821 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Air Lease by 5.5% during the 4th quarter. Two Sigma Advisers LP now owns 58,111 shares of the transportation company’s stock worth $2,795,000 after acquiring an additional 3,055 shares during the period. Institutional investors and hedge funds own 90.32% of the company’s stock.
In related news, EVP Jie Chen sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $47.96, for a total value of $191,840.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Steven F. Udvar-Hazy sold 9,150 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $43.25, for a total transaction of $395,737.50. Following the completion of the transaction, the chairman now directly owns 926,962 shares in the company, valued at approximately $40,091,106.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,077 shares of company stock worth $3,973,287. 9.76% of the stock is owned by insiders.
Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.19. Air Lease had a net margin of 49.87% and a return on equity of 10.91%. The business had revenue of $398.47 million for the quarter, compared to analysts’ expectations of $380.93 million. During the same quarter last year, the firm earned $1.48 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities analysts expect that Air Lease Corp will post 4.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Tuesday, March 20th will be given a $0.10 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.40 annualized dividend and a yield of 0.91%. Air Lease’s payout ratio is 5.87%.
AL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, January 9th. Citigroup initiated coverage on shares of Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 price objective on the stock. UBS reissued a “sell” rating and set a $32.00 price objective (up previously from $31.00) on shares of Air Lease in a research report on Wednesday, February 21st. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Air Lease in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.05.
Air Lease Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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