AerSale Corporation $ASLE Stock: Private Management Group Inc. Grows Holdings

Key Points

• Private Management Group increased its AerSale stake by 168% in the third quarter, to nearly 3 million shares, representing about 6.23% of the company. Institutional investors and hedge funds collectively own 69.48% of the stock.
• Analyst sentiment is cautious: AerSale has an average “Reduce” rating and a consensus price target of $6.25, after B. Riley and RBC lowered their targets.
• AerSale reported a quarterly loss of $0.02 per share, missing the $0.11 consensus estimate, while revenue of $91.56 million slightly exceeded expectations.

Private Management Group Inc. boosted its holdings in shares of AerSale Corporation (NASDAQ:ASLE - Free Report) by 168.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,974,446 shares of the company's stock after acquiring an additional 1,864,641 shares during the quarter. Private Management Group Inc. owned approximately 6.23% of AerSale worth $15,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in AerSale in the second quarter worth approximately $17,358,000. Dimensional Fund Advisors LP raised its holdings in shares of AerSale by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company's stock valued at $8,691,000 after purchasing an additional 110,360 shares in the last quarter. Raffles Associates LP bought a new position in shares of AerSale during the 2nd quarter valued at $2,907,000. Bank of New York Mellon Corp bought a new position in shares of AerSale during the 2nd quarter valued at $970,000. Finally, Squarepoint Ops LLC lifted its stake in shares of AerSale by 9.9% in the 2nd quarter. Squarepoint Ops LLC now owns 148,674 shares of the company's stock valued at $940,000 after purchasing an additional 13,417 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ASLE shares. B. Riley Financial decreased their price objective on shares of AerSale from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Monday. Royal Bank Of Canada cut their target price on AerSale from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Monday, August 10th. Zacks Research raised AerSale from a "strong sell" rating to a "hold" rating in a research report on Friday, October 9th. Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of AerSale in a report on Wednesday, August 12th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $6.25.

AerSale Price Performance

Shares of AerSale stock opened at $5.06 on Tuesday. The firm has a fifty day simple moving average of $5.10 and a 200-day simple moving average of $6.19. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. AerSale Corporation has a 1-year low of $4.52 and a 1-year high of $7.93. The stock has a market capitalization of $241.51 million, a price-to-earnings ratio of -12.97 and a beta of 0.23.

AerSale (NASDAQ:ASLE - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.13). The firm had revenue of $91.56 million for the quarter, compared to the consensus estimate of $91.22 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. On average, sell-side analysts expect that AerSale Corporation will post 0.03 earnings per share for the current year.

AerSale Profile

AerSale Corporation NASDAQ: ASLE is an aviation aftermarket company that provides products and services to commercial airlines, aircraft leasing companies, original equipment manufacturers, government agencies and other aviation customers. The company focuses primarily on commercial aircraft and engines, including aircraft sales and leasing support, component sourcing, and related asset management services.

AerSale also operates maintenance, repair and overhaul capabilities for aircraft, engines and components.

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