GAMMA Investing LLC Buys 197,694 Shares of Air Lease Co. (NYSE:AL)

GAMMA Investing LLC grew its position in Air Lease Co. (NYSE:AL - Free Report) by 8,561.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,003 shares of the transportation company's stock after purchasing an additional 197,694 shares during the period. GAMMA Investing LLC owned approximately 0.18% of Air Lease worth $9,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Air Lease in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Air Lease in the 4th quarter valued at approximately $31,000. Engine Capital Management LP purchased a new stake in shares of Air Lease in the 4th quarter valued at approximately $36,000. Versant Capital Management Inc lifted its position in Air Lease by 88.1% in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Air Lease by 5,245.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after buying an additional 1,049 shares in the last quarter. Institutional investors own 94.59% of the company's stock.

Wall Street Analyst Weigh In

AL has been the subject of a number of research analyst reports. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $72.00 to $50.00 in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.43.

Air Lease Price Performance

AL stock traded up $0.25 during trading on Wednesday, hitting $57.68. 647,874 shares of the stock traded hands, compared to its average volume of 790,596. Air Lease Co. has a one year low of $38.25 and a one year high of $59.27. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.33 and a beta of 1.36. The company has a 50 day simple moving average of $50.79 and a 200 day simple moving average of $48.78. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The company had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The company's revenue was up 11.3% on a year-over-year basis. Equities analysts expect that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio is 15.38%.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president now owns 146,316 shares in the company, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.64% of the stock is owned by corporate insiders.

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.