Quantitative Investment Management LLC Invests $683,000 in Air Lease Corporation (AL) Stock
Quantitative Investment Management LLC bought a new position in shares of Air Lease Corporation (NYSE:AL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 18,300 shares of the transportation company’s stock, valued at approximately $683,000.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can grew its stake in Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 35 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Air Lease Corporation by 49.6% during the first quarter. Nationwide Fund Advisors now owns 23,167 shares of the transportation company’s stock valued at $898,000 after buying an additional 7,682 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Air Lease Corporation by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 492,147 shares of the transportation company’s stock valued at $19,071,000 after buying an additional 7,699 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Air Lease Corporation by 17.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 71,921 shares of the transportation company’s stock valued at $2,787,000 after buying an additional 10,662 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Air Lease Corporation by 290.3% in the 1st quarter. Sei Investments Co. now owns 52,512 shares of the transportation company’s stock valued at $2,035,000 after buying an additional 39,057 shares in the last quarter. Institutional investors own 92.11% of the company’s stock.
Shares of Air Lease Corporation (NYSE:AL) opened at 42.62 on Monday. Air Lease Corporation has a 1-year low of $27.97 and a 1-year high of $43.39. The stock has a market cap of $4.40 billion, a PE ratio of 12.41 and a beta of 1.79. The stock has a 50 day moving average of $40.06 and a 200 day moving average of $38.46.
Air Lease Corporation (NYSE:AL) last announced its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same quarter last year, the business earned $1.39 earnings per share. Air Lease Corporation’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Air Lease Corporation will post $3.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is presently 8.70%.
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AL has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target 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. BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Bank of America Corporation cut shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Wednesday, August 9th. ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Air Lease Corporation presently has an average rating of “Buy” and an average target price of $49.11.
In other Air Lease Corporation news, EVP Alex A. Khatibi sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the completion of the sale, the executive vice president now directly owns 142,786 shares in the company, valued at $5,711,440. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,562 shares of company stock worth $1,170,363. Corporate insiders own 9.76% of the company’s stock.
Air Lease Corporation 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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