200,000 Shares in Air Lease Corporation $AL Acquired by Picton Mahoney Asset Management

Key Points

• Picton Mahoney acquired a new position of 200,000 shares in Air Lease (about $12.73M), representing roughly 0.18% of the company while institutional ownership is around 94.6%.
• Air Lease posted an EPS beat of $2.20 versus $1.46 consensus but missed revenue at $679.5M vs. $782.7M, and analysts' consensus rating is "Hold" with a $59.60 target.
• The firm declared a quarterly dividend of $0.22 (annualized $0.88, ~1.4% yield), even as insiders sold 595,958 shares (~$38.16M) in the last 90 days and now hold 6.64% of the stock.

Picton Mahoney Asset Management acquired a new position in shares of Air Lease Corporation (NYSE:AL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 200,000 shares of the transportation company's stock, valued at approximately $12,730,000. Picton Mahoney Asset Management owned approximately 0.18% of Air Lease as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AL. Archer Investment Corp boosted its position in shares of Air Lease by 5.1% in the third quarter. Archer Investment Corp now owns 3,415 shares of the transportation company's stock worth $217,000 after buying an additional 165 shares during the period. Sage Rhino Capital LLC lifted its stake in Air Lease by 4.8% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company's stock worth $253,000 after acquiring an additional 181 shares in the last quarter. Eastern Bank boosted its position in Air Lease by 33.2% during the 3rd quarter. Eastern Bank now owns 799 shares of the transportation company's stock worth $51,000 after acquiring an additional 199 shares during the period. PNC Financial Services Group Inc. boosted its position in Air Lease by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company's stock worth $710,000 after acquiring an additional 205 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in Air Lease by 75.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company's stock valued at $35,000 after acquiring an additional 234 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Air Lease Stock Down 0.0%

Shares of Air Lease stock opened at $64.71 on Thursday. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 6.95, a P/E/G ratio of 0.53 and a beta of 1.11. The stock has a 50-day simple moving average of $64.50 and a 200-day simple moving average of $63.70. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.96. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, equities research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease's dividend payout ratio (DPR) is currently 9.45%.

Insider Activity at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 1,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.30, for a total transaction of $64,300.00. Following the transaction, the executive vice president directly owned 137,206 shares of the company's stock, valued at $8,822,345.80. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kishore Korde sold 20,662 shares of the firm's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the transaction, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. This trade 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 sold 595,958 shares of company stock valued at $38,158,193. Insiders own 6.64% of the company's stock.

Air Lease 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.

Want to see what other hedge funds are holding AL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Lease Corporation (NYSE:AL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.