14,813 Shares in Air Lease Corporation $AL Bought by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. acquired 14,813 shares of Air Lease Corporation, valued at approximately $866,000, marking a significant new investment by the firm.
• Insiders of Air Lease have recently sold a total of 12,000 shares worth $746,380 in the last 90 days, indicating a significant decrease in their ownership stakes.
• Air Lease reported a quarterly earnings beat with $1.40 earnings per share, surpassing analyst expectations, and also declared a quarterly dividend of $0.22 per share.

Lecap Asset Management Ltd. bought a new stake in Air Lease Corporation (NYSE:AL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,813 shares of the transportation company's stock, valued at approximately $866,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new position in shares of Air Lease in the 1st quarter valued at about $25,000. Brooklyn Investment Group grew its position in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after buying an additional 355 shares during the period. Versant Capital Management Inc increased its holdings in Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after buying an additional 348 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after acquiring an additional 647 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Air Lease during the 1st quarter valued at approximately $52,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total value of $317,850.00. Following the sale, the executive vice president directly owned 141,316 shares of the company's stock, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Beker sold 5,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company's stock, valued at approximately $887,514.10. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $746,380 in the last 90 days. Insiders own 6.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AL. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a research note on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Barclays reiterated an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of "Hold" and an average price target of $60.29.

Air Lease Price Performance

NYSE:AL opened at $63.61 on Friday. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company's 50-day moving average is $60.36 and its two-hundred day moving average is $55.30. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company's revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. Research analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's dividend payout ratio is currently 10.68%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.

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