Insider Selling: Air Lease Corporation (AL) EVP Sells $172,000.00 in Stock
Air Lease Corporation (NYSE:AL) EVP Jie Chen sold 4,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.00, for a total transaction of $172,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Jie Chen also recently made the following trade(s):
- On Tuesday, August 8th, Jie Chen sold 10,000 shares of Air Lease Corporation stock. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00.
Shares of Air Lease Corporation (NYSE AL) opened at 43.43 on Friday. Air Lease Corporation has a 12-month low of $27.97 and a 12-month high of $44.56. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 12.65 and a beta of 1.79. The stock’s 50 day moving average is $40.51 and its 200 day moving average is $38.73.
Air Lease Corporation (NYSE:AL) last issued its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 EPS. Equities analysts expect that Air Lease Corporation will post $3.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s payout ratio is presently 8.70%.
Several research analysts recently issued reports on the stock. Bank of America Corporation lowered shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Wednesday, August 9th. Royal Bank Of Canada raised their price objective on shares of Air Lease Corporation from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Cowen and Company raised their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $49.75.
Hedge funds have recently added to or reduced their stakes in the stock. Israel Discount Bank of New York increased its position in Air Lease Corporation by 7.7% during the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after purchasing an additional 200 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Air Lease Corporation during the 2nd quarter worth approximately $111,000. QS Investors LLC increased its position in Air Lease Corporation by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after purchasing an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Air Lease Corporation by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after purchasing an additional 331 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Air Lease Corporation by 0.9% during the 1st quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.
About Air Lease Corporation
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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