Meros Investment Management LP Cuts Stake in AerSale Corporation $ASLE

Key Points

• Meros Investment Management LP sold 98,156 shares of AerSale Corporation, reducing its stake by 22.9%, now owning approximately 0.70% of the company valued at $2.47 million.
• Institutional investors own 69.48% of AerSale's stock, with other major investors increasing their holdings, including American Century Companies Inc., which raised its investment by 87.4%.
• Wall Street analysts have mixed ratings for AerSale, with Royal Bank of Canada raising its price target to $8.00, while Truist Financial downgraded its rating and cut the price target to $6.00.

Meros Investment Management LP trimmed its position in AerSale Corporation (NASDAQ:ASLE - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,569 shares of the company's stock after selling 98,156 shares during the quarter. Meros Investment Management LP owned 0.70% of AerSale worth $2,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ASLE. M3F Inc. purchased a new position in shares of AerSale in the fourth quarter worth $9,941,000. Alyeska Investment Group L.P. increased its stake in shares of AerSale by 105.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,100,000 shares of the company's stock worth $6,930,000 after buying an additional 565,017 shares during the period. Raffles Associates LP increased its stake in shares of AerSale by 295.7% in the fourth quarter. Raffles Associates LP now owns 455,000 shares of the company's stock worth $2,866,000 after buying an additional 340,000 shares during the period. Nuveen LLC purchased a new position in shares of AerSale in the first quarter worth $1,966,000. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of AerSale in the first quarter worth $1,450,000. 69.48% of the stock is owned by hedge funds and other institutional investors.

AerSale Stock Up 1.6%

ASLE stock traded up $0.1450 during trading on Thursday, hitting $8.9350. 218,940 shares of the stock traded hands, compared to its average volume of 425,998. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 0.82. The stock has a market cap of $421.55 million, a price-to-earnings ratio of 63.82 and a beta of 0.24. The firm's 50 day moving average is $6.52 and its two-hundred day moving average is $6.78. AerSale Corporation has a 1 year low of $4.53 and a 1 year high of $9.06.

Analysts Set New Price Targets

Several research analysts have commented on ASLE shares. Truist Financial lowered shares of AerSale from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $8.00 to $6.00 in a report on Friday, July 11th. Wall Street Zen upgraded shares of AerSale from a "sell" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada upped their price objective on shares of AerSale from $7.00 to $8.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.00.

About AerSale

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).