Algert Global LLC Acquires Shares of 41,150 Air Lease Corporation $AL

Key Points

• Algert Global LLC has acquired a new stake in Air Lease Corporation, purchasing 41,150 shares valued at approximately $1,988,000.
• Air Lease recently reported earnings of $1.40 EPS, exceeding analysts' expectations of $1.33, with a revenue of $731.70 million for the quarter.
• The company announced a quarterly dividend of $0.22 per share, representing a 1.5% yield, payable on October 8th to investors of record on September 3rd.

Algert Global LLC bought a new position in shares of Air Lease Corporation (NYSE:AL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,150 shares of the transportation company's stock, valued at approximately $1,988,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cresset Asset Management LLC acquired a new position in Air Lease during the 1st quarter worth $546,000. American Century Companies Inc. grew its stake in Air Lease by 10.4% during the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock worth $172,143,000 after purchasing an additional 336,376 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Air Lease by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company's stock worth $318,479,000 after purchasing an additional 31,274 shares in the last quarter. Sei Investments Co. grew its stake in Air Lease by 2.8% during the 1st quarter. Sei Investments Co. now owns 388,066 shares of the transportation company's stock worth $18,716,000 after purchasing an additional 10,582 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in Air Lease by 399.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 33,930 shares of the transportation company's stock worth $1,639,000 after purchasing an additional 27,136 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of Air Lease stock traded up $0.12 on Wednesday, hitting $60.56. The stock had a trading volume of 738,899 shares, compared to its average volume of 836,501. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $61.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 7.35, a P/E/G ratio of 0.62 and a beta of 1.41. The company's 50 day moving average price is $57.69 and its 200 day moving average price is $52.38.

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

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Air Lease's payout ratio is presently 10.68%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and set a $67.00 price target (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 2,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the sale, the executive vice president directly owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.64% of the company's stock.

About Air Lease

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.