Cinctive Capital Management LP Takes Position in Air Lease Corporation $AL

Key Points

• Cinctive Capital Management LP has acquired a new stake in Air Lease Corporation, purchasing 68,322 shares valued at approximately $3.3 million, representing 0.06% ownership.
• Air Lease's recent quarterly earnings report showed an EPS of $1.40, exceeding analysts' expectations of $1.33, along with a revenue of $731.7 million, up 9.7% year-over-year.
• The company plans to pay a quarterly dividend of $0.22 per share on October 8th, yielding an annualized dividend of $0.88, which represents a payout ratio of 10.68%.

Cinctive Capital Management LP purchased a new stake in Air Lease Corporation (NYSE:AL - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 68,322 shares of the transportation company's stock, valued at approximately $3,301,000. Cinctive Capital Management LP owned about 0.06% of Air Lease as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AL. Illinois Municipal Retirement Fund raised its holdings in shares of Air Lease by 0.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company's stock valued at $2,720,000 after purchasing an additional 272 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Air Lease by 3.0% in the fourth quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock valued at $461,000 after purchasing an additional 281 shares in the last quarter. MBM Wealth Consultants LLC grew its holdings in Air Lease by 2.1% during the 1st quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company's stock worth $686,000 after acquiring an additional 284 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of 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 buying an additional 355 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Air Lease

In other news, EVP David Beker sold 2,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 19,770 shares in the company, valued at $1,096,048.80. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AL shares. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. TD Cowen lowered shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Barclays reaffirmed an "overweight" rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $60.29.

Air Lease Price Performance

Shares of NYSE:AL traded up $0.01 during trading on Wednesday, reaching $63.61. 802,994 shares of the company traded hands, compared to its average volume of 994,409. The company's 50 day moving average is $58.62 and its two-hundred day moving average is $53.31. The firm has a market capitalization of $7.11 billion, a PE ratio of 7.72, a PEG ratio of 0.66 and a beta of 1.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease's dividend payout ratio (DPR) is currently 10.68%.

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.