GAMMA Investing LLC Has $9.66 Million Holdings in Air Lease Co. (NYSE:AL)

GAMMA Investing LLC lifted its holdings in Air Lease Co. (NYSE:AL - Free Report) by 8,561.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,003 shares of the transportation company's stock after acquiring 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.

Several other large investors also recently made changes to their positions in AL. Arizona State Retirement System raised its stake in shares of Air Lease by 0.8% during the fourth quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company's stock valued at $1,480,000 after purchasing an additional 244 shares during the period. Principal Securities Inc. grew its holdings in Air Lease by 11.6% during the 4th quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company's stock valued at $128,000 after purchasing an additional 276 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Air Lease by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock worth $2,210,000 after buying an additional 280 shares during the period. Squarepoint Ops LLC increased its stake in Air Lease by 3.0% during the 4th quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company's stock worth $461,000 after buying an additional 281 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Air Lease by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company's stock worth $2,098,000 after buying an additional 318 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

Air Lease Price Performance

Shares of NYSE AL traded up $0.59 during mid-day trading on Friday, reaching $57.65. 647,916 shares of the company traded hands, compared to its average volume of 789,552. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $59.27. The firm has a market cap of $6.44 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The stock has a fifty day simple moving average of $50.07 and a 200-day simple moving average of $48.62. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. The business had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The business's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. Equities research analysts anticipate 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. Investors 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 yield of 1.53%. The ex-dividend date is Wednesday, June 4th. Air Lease's payout ratio is 15.38%.

Analyst Upgrades and Downgrades

AL has been the topic of several analyst reports. UBS Group set a $50.00 price objective on Air Lease in a 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. increased their price objective on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Citigroup raised shares of Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Finally, Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Air Lease currently has an average rating of "Moderate Buy" and an average price target of $57.43.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. This represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.64% of the company's stock.

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.