Marathon Asset Management Ltd Decreases Stock Holdings in Air Lease Corporation (NYSE:AL)

Marathon Asset Management Ltd trimmed its position in Air Lease Corporation (NYSE:AL - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 305,474 shares of the transportation company's stock after selling 10,383 shares during the quarter. Marathon Asset Management Ltd owned 0.27% of Air Lease worth $14,823,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AL. Alpine Bank Wealth Management bought a new stake in shares of Air Lease during the 1st quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Air Lease during the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Air Lease during the fourth quarter worth $31,000. Engine Capital Management LP acquired a new position in shares of Air Lease during the fourth quarter worth $36,000. Finally, Versant Capital Management Inc lifted its stake in shares of Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after acquiring an additional 348 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of Air Lease stock traded up $0.10 during trading hours on Tuesday, reaching $58.59. The company had a trading volume of 884,477 shares, compared to its average volume of 870,206. The firm has a market cap of $6.55 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. Air Lease Corporation has a one year low of $38.25 and a one year high of $59.26. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. The business has a fifty day simple moving average of $54.71 and a 200 day simple moving average of $49.35.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.27. The company had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. On average, analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.50%. Air Lease's dividend payout ratio is currently 15.38%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and upped their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Bank of America cut 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 research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the firm'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 value of $568,500.00. Following the transaction, the executive vice president owned 146,316 shares in the company, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.80% 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.