Air Lease Corporation $AL Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC has reduced its holdings in Air Lease Corporation by 35.7%, selling 272,833 shares and now owning about 491,811 shares valued at approximately $28.77 million.
• Air Lease reported a quarterly EPS of $1.40, surpassing analysts' expectations of $1.33, and its revenue increased by 9.7% year-over-year to $731.70 million.
• The company declared a quarterly dividend of $0.22 per share, resulting in an annualized yield of 1.4%, with a payout ratio of 10.68%.

William Blair Investment Management LLC decreased its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 35.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,811 shares of the transportation company's stock after selling 272,833 shares during the quarter. William Blair Investment Management LLC owned about 0.44% of Air Lease worth $28,766,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Air Lease in the 1st quarter worth $25,000. Brooklyn Investment Group lifted its position in Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after acquiring an additional 355 shares during the period. Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 647 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Air Lease in the first quarter valued at about $52,000. Finally, Hilltop National Bank purchased a new position in shares of Air Lease in the second quarter worth about $127,000. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Trading Up 0.2%

AL opened at $63.67 on Monday. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30. The stock has a market capitalization of $7.12 billion, a PE ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.37. The business's 50 day moving average price is $62.07 and its 200 day moving average price is $56.59. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

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

Air Lease Dividend Announcement

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

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the transaction, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Beker sold 5,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the transaction, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $746,380 over the last 90 days. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AL has been the subject of several research analyst reports. Cowen cut Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. TD Cowen cut Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Barclays reissued an "overweight" rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft cut Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a report on Wednesday, September 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Air Lease in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Air Lease presently has a consensus rating of "Hold" and an average target price of $60.29.

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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