Private Management Group Inc. Boosts Stake in AerSale Corporation (NASDAQ:ASLE)

Key Points

• Private Management Group Inc. increased its stake in AerSale Corporation by 7.3%, owning approximately 2.54% of the company, which is valued at $8.9 million.
• Multiple institutional investors, including M3F Inc. and Alyeska Investment Group, have recently adjusted their holdings in AerSale, with 69.48% of the stock now owned by institutional investors.
• Analysts have lowered their ratings for AerSale, with Truist Financial reducing its price target from $8.00 to $6.00, reflecting a cautious outlook for the stock.

Private Management Group Inc. raised its stake in shares of AerSale Corporation (NASDAQ:ASLE - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,191,512 shares of the company's stock after buying an additional 81,378 shares during the quarter. Private Management Group Inc. owned about 2.54% of AerSale worth $8,924,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of AerSale by 3,427.5% in the 1st quarter. GAMMA Investing LLC now owns 4,621 shares of the company's stock worth $35,000 after purchasing an additional 4,490 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of AerSale by 37.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,536 shares of the company's stock worth $41,000 after acquiring an additional 1,519 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of AerSale by 85.4% in the first quarter. SBI Securities Co. Ltd. now owns 6,732 shares of the company's stock worth $50,000 after acquiring an additional 3,100 shares during the period. Franklin Resources Inc. bought a new stake in shares of AerSale in the fourth quarter worth $75,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of AerSale by 25.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,277 shares of the company's stock worth $84,000 after acquiring an additional 2,665 shares during the period. Hedge funds and other institutional investors own 69.48% of the company's stock.

AerSale Price Performance

Shares of NASDAQ ASLE traded down $0.05 during mid-day trading on Friday, reaching $6.30. The company's stock had a trading volume of 301,173 shares, compared to its average volume of 249,894. The firm has a market capitalization of $295.22 million, a PE ratio of -57.27 and a beta of 0.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.54 and a quick ratio of 0.88. The stock has a fifty day moving average of $5.97 and a two-hundred day moving average of $6.68. AerSale Corporation has a 52 week low of $4.53 and a 52 week high of $8.76.

Analyst Upgrades and Downgrades

ASLE has been the subject of several recent research reports. Truist Financial lowered AerSale from a "buy" rating to a "hold" rating and cut their price target for the company from $8.00 to $6.00 in a report on Friday, July 11th. Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada cut their price objective on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.00.

AerSale Profile

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).