Kishore Korde Sells 2,000 Shares of Air Lease Corp (AL) Stock
Air Lease Corp (NYSE:AL) EVP Kishore Korde sold 2,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $44.99, for a total transaction of $89,980.00. Following the completion of the sale, the executive vice president now directly owns 82,410 shares of the company’s stock, valued at $3,707,625.90. The transaction was disclosed in a filing with the SEC, which is available at this link.
Kishore Korde also recently made the following trade(s):
- On Wednesday, November 15th, Kishore Korde sold 2,000 shares of Air Lease stock. The stock was sold at an average price of $40.80, for a total transaction of $81,600.00.
Air Lease Corp (AL) traded up $1.07 during mid-day trading on Friday, reaching $45.80. The company’s stock had a trading volume of 943,439 shares, compared to its average volume of 583,885. Air Lease Corp has a 1-year low of $34.21 and a 1-year high of $45.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. The company has a market cap of $4,728.38, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.82.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The business had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. During the same period in the prior year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts predict that Air Lease Corp will post 3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.87%. This is an increase from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. Air Lease’s dividend payout ratio is presently 11.46%.
Several equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Air Lease in a report on Friday, December 8th. They issued a “neutral” rating and a $46.00 target price for the company. ValuEngine lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Air Lease from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Credit Suisse Group increased their target price on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, UBS upped their price target on Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.50.
A number of hedge funds have recently bought and sold shares of the business. SLS Management LLC bought a new position in shares of Air Lease during the 2nd quarter valued at approximately $1,535,000. Nationwide Fund Advisors boosted its position in shares of Air Lease by 45.4% during the 2nd quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock valued at $1,258,000 after acquiring an additional 10,517 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Air Lease by 18.9% during the 3rd quarter. Prudential Financial Inc. now owns 255,979 shares of the transportation company’s stock valued at $10,910,000 after acquiring an additional 40,769 shares during the last quarter. NGAM Advisors L.P. boosted its position in shares of Air Lease by 2.4% during the 2nd quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock valued at $699,000 after acquiring an additional 447 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its position in shares of Air Lease by 90.4% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the transportation company’s stock valued at $6,688,000 after acquiring an additional 74,500 shares during the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.
About Air Lease
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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