BlackRock Inc. Purchases Shares of 2,746,544 AerSale Corporation $ASLE

Key Points

• BlackRock acquired 2.75 million AerSale shares in the second quarter, worth approximately $17.4 million, giving it a 5.81% stake. Institutional investors collectively own 69.48% of the company.
• Analyst sentiment remains negative: AerSale has an average “Reduce” rating and a consensus price target of $6.83, while several firms recently downgraded the stock to “Sell” or “Strong Sell.”
• AerSale reported a quarterly loss of $0.09 per share, missing estimates by $0.15, and revenue of $70.93 million versus the $81.24 million consensus forecast. The stock recently opened at $5.64, near its 52-week low of $5.41.

BlackRock Inc. acquired a new position in AerSale Corporation (NASDAQ:ASLE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,746,544 shares of the company's stock, valued at approximately $17,358,000. BlackRock Inc. owned about 5.81% of AerSale as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CWM LLC raised its position in AerSale by 100.7% in the 4th quarter. CWM LLC now owns 6,393 shares of the company's stock worth $45,000 after purchasing an additional 3,208 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in AerSale by 39.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company's stock valued at $55,000 after acquiring an additional 2,477 shares during the period. BNP Paribas Financial Markets grew its position in AerSale by 45.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,813 shares of the company's stock worth $80,000 after acquiring an additional 3,071 shares during the last quarter. KLCM Advisors Inc. bought a new position in AerSale during the 4th quarter worth approximately $71,000. Finally, HRT Financial LP purchased a new position in AerSale in the 4th quarter worth approximately $75,000. Institutional investors own 69.48% of the company's stock.

Insider Activity

In other AerSale news, insider Martin Garmendia sold 6,094 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $38,635.96. Following the completion of the sale, the insider directly owned 183,377 shares in the company, valued at $1,162,610.18. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Jones sold 7,491 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total transaction of $47,492.94. Following the completion of the sale, the insider owned 162,405 shares of the company's stock, valued at $1,029,647.70. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 21,316 shares of company stock valued at $135,160. Corporate insiders own 20.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank Of Canada lowered their price objective on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AerSale in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Zacks Research lowered shares of AerSale from a "hold" rating to a "strong sell" rating in a report on Thursday, August 27th. Finally, B. Riley Financial started coverage on shares of AerSale in a research report on Monday, June 29th. They issued a "neutral" rating and a $7.50 price objective on the stock. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, AerSale has an average rating of "Reduce" and a consensus target price of $6.83.

AerSale Price Performance

ASLE opened at $5.64 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 3.27. AerSale Corporation has a 52-week low of $5.41 and a 52-week high of $8.91. The stock has a market capitalization of $269.20 million, a PE ratio of -70.50 and a beta of 0.23. The stock's 50 day moving average price is $6.02 and its 200-day moving average price is $6.42.

AerSale (NASDAQ:ASLE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). The business had revenue of $70.93 million during the quarter, compared to analysts' expectations of $81.24 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. On average, equities research analysts predict that AerSale Corporation will post 0.03 EPS for the current year.

AerSale Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.

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