Goldman Sachs Group Inc. Lowers Stock Position in AerSale Corporation $ASLE

Key Points

• Goldman Sachs Group Inc. reduced its stake in AerSale Corporation by 7.9%, selling 45,606 shares during the first quarter, resulting in ownership of approximately 1.13% of the company's shares.
• A number of institutional investors increased their stakes in AerSale, with Harel Insurance Investments boosting its stake by 37.8% and SBI Securities by 85.4% in the same quarter.
• Analysts have issued varied ratings on AerSale, with Truist Financial downgrading the stock from "buy" to "hold" while Zacks Research upgraded it from "hold" to "strong-buy", with an average target price currently set at $7.00.

Goldman Sachs Group Inc. cut its stake in AerSale Corporation (NASDAQ:ASLE - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 529,078 shares of the company's stock after selling 45,606 shares during the period. Goldman Sachs Group Inc. owned approximately 1.13% of AerSale worth $3,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ASLE. Northern Trust Corp grew its position in AerSale by 3.9% in the fourth quarter. Northern Trust Corp now owns 277,102 shares of the company's stock worth $1,746,000 after acquiring an additional 10,401 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of AerSale during the fourth quarter worth $377,000. Deutsche Bank AG boosted its position in shares of AerSale by 82.9% during the fourth quarter. Deutsche Bank AG now owns 41,472 shares of the company's stock worth $261,000 after buying an additional 18,792 shares during the period. Nuveen Asset Management LLC raised its stake in shares of AerSale by 22.4% in the fourth quarter. Nuveen Asset Management LLC now owns 572,882 shares of the company's stock valued at $3,609,000 after acquiring an additional 104,663 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of AerSale in the fourth quarter valued at $138,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

AerSale Stock Performance

Shares of NASDAQ ASLE traded down $0.32 during midday trading on Friday, reaching $8.34. 604,468 shares of the company were exchanged, compared to its average volume of 433,992. The company has a current ratio of 3.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. AerSale Corporation has a 1 year low of $4.53 and a 1 year high of $9.12. The stock has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.03. The stock has a market cap of $393.50 million, a P/E ratio of 59.57 and a beta of 0.27.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ASLE. Truist Financial cut AerSale from a "buy" rating to a "hold" rating and reduced their price objective for the company from $8.00 to $6.00 in a research note on Friday, July 11th. Wall Street Zen cut AerSale from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Royal Bank Of Canada raised their price target on AerSale from $7.00 to $8.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, Zacks Research raised AerSale from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

AerSale Company Profile

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).