State of Alaska Department of Revenue Acquires Shares of 6,000 Air Lease Corp (AL)
State of Alaska Department of Revenue acquired a new position in shares of Air Lease Corp (NYSE:AL) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,000 shares of the transportation company’s stock, valued at approximately $287,000.
A number of other institutional investors have also recently added to or reduced their stakes in AL. Zions Bancorporation acquired a new stake in shares of Air Lease during the third quarter valued at about $114,000. QS Investors LLC increased its position in shares of Air Lease by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 21 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Air Lease during the second quarter valued at about $235,000. Invictus RG acquired a new stake in shares of Air Lease during the third quarter valued at about $299,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Air Lease during the second quarter valued at about $362,000. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Air Lease Corp (NYSE AL) opened at $45.80 on Wednesday. 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 firm has a market cap of $4,604.51, a P/E ratio of 12.78, a P/E/G ratio of 0.70 and a beta of 1.71. Air Lease Corp has a twelve month low of $34.42 and a twelve month high of $50.70.
A number of equities research analysts have weighed in on AL shares. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Bank of America set a $47.00 price target on shares of Air Lease and gave the company a “hold” rating in a research report on Thursday, October 19th. Citigroup started coverage on shares of Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and set a $80.00 price target on shares of Air Lease in a research report on Thursday, November 2nd. Finally, UBS Group lifted their price target on shares of Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Air Lease has an average rating of “Hold” and an average price target of $49.40.
In related news, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total value of $12,402,000.00. Following the completion of the transaction, the chief executive officer now owns 1,057,310 shares in the company, valued at $43,709,195.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jie Chen sold 52,000 shares of Air Lease stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $45.00, for a total transaction of $2,340,000.00. The disclosure for this sale can be found here. Insiders sold 383,000 shares of company stock valued at $16,145,030 in the last 90 days. Company insiders own 9.76% of the company’s stock.
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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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