Gagnon Securities LLC Acquires 5,354 Shares of Air Lease Corporation $AL

Key Points

• Gagnon Securities LLC increased its stake in Air Lease Corporation by 0.7%, acquiring an additional 5,354 shares, making Air Lease its largest holding at 8.7% of its investment portfolio.
• Insider selling trends include EVP Grant A. Levy and EVP David Beker each selling 5,000 shares recently, resulting in a decrease of 3.42% and 26.36% in their respective holdings.
• Air Lease announced a quarterly dividend of $0.22, to be paid on October 8th, translating to an annualized yield of 1.4% based on a payout ratio of 10.68%.

Gagnon Securities LLC raised its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 736,437 shares of the transportation company's stock after buying an additional 5,354 shares during the quarter. Air Lease accounts for 8.7% of Gagnon Securities LLC's investment portfolio, making the stock its largest holding. Gagnon Securities LLC owned about 0.66% of Air Lease worth $43,074,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Air Lease in the first quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after buying an additional 355 shares during the period. Geneos Wealth Management Inc. lifted its stake in Air Lease by 264.1% in the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after buying an additional 647 shares during the period. SVB Wealth LLC acquired a new position in Air Lease in the first quarter valued at approximately $52,000. Finally, Hilltop National Bank acquired a new position in Air Lease in the second quarter valued at approximately $127,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 owned 141,316 shares of the company's stock, valued at $8,983,458.12. This represents a 3.42% decrease in their position. The sale was disclosed in a filing 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 shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares in the company, valued at $887,514.10. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $746,380 in the last 90 days. Corporate insiders own 6.80% of the company's stock.

Air Lease Trading Down 0.1%

Shares of Air Lease stock opened at $63.65 on Wednesday. The stock has a fifty day simple moving average of $60.73 and a 200 day simple moving average of $55.70. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The company has a market capitalization of $7.11 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47.

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

Air Lease Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AL shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Air Lease in a research report on Saturday, September 27th. 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 report on Wednesday, September 3rd. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Barclays reaffirmed an "overweight" rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Air Lease has an average rating of "Hold" and an average target price of $60.29.

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.

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