Short Interest in Air Lease Corporation (NYSE:AL) Rises By 39.0%

Air Lease Corporation (NYSE:AL) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,167,761 shares, an increase of 39.0% from the January 29th total of 2,279,286 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 1,803,003 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily volume of 1,803,003 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.0% of the company’s shares are sold short.

Air Lease Trading Up 0.0%

NYSE AL traded up $0.01 on Tuesday, reaching $64.71. 3,406,307 shares of the company were exchanged, compared to its average volume of 1,725,053. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33. The business’s fifty day moving average price is $64.49 and its 200 day moving average price is $63.69. The stock has a market capitalization of $7.25 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. Air Lease has a fifty-two week low of $38.25 and a fifty-two week high of $64.96.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts forecast that Air Lease will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s dividend payout ratio is 9.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and issued a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.60.

Insider Activity at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 19,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.12, for a total value of $1,218,280.00. Following the sale, the director owned 1,391,366 shares of the company’s stock, valued at approximately $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the transaction, the executive vice president directly owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. This represents a 29.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 595,958 shares of company stock worth $38,158,193. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its holdings in shares of Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after buying an additional 447 shares during the period. Mather Group LLC. purchased a new stake in Air Lease during the third quarter worth about $29,000. First Horizon Corp purchased a new stake in Air Lease during the third quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Air Lease during the fourth quarter worth about $32,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 407 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.