Park Avenue Securities LLC Makes New $1.12 Million Investment in Air Lease Corporation $AL

Key Points

• Park Avenue Securities LLC made a new investment in Air Lease Corporation, acquiring 19,196 shares valued at approximately $1.12 million.
• Insider transactions showed that two executive vice presidents sold a total of 10,000 shares recently, reducing their ownership stakes significantly.
• Air Lease reported strong quarterly earnings with an EPS of $1.40, exceeding estimates and demonstrating a 9.7% year-over-year revenue growth.

Park Avenue Securities LLC acquired a new stake in Air Lease Corporation (NYSE:AL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,196 shares of the transportation company's stock, valued at approximately $1,123,000.

Several other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Air Lease in the 1st quarter valued at $25,000. Brooklyn Investment Group boosted its holdings in shares of 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 acquiring an additional 355 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Air Lease by 88.1% during the first 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. Geneos Wealth Management Inc. raised its position in Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock worth $43,000 after acquiring an additional 647 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Air Lease in the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 94.59% of the company's stock.

Insider Activity at Air Lease

In other news, EVP David Beker sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the sale, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $317,850.00. Following the sale, the executive vice president owned 141,316 shares of the company's stock, valued at $8,983,458.12. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock worth $746,380. Insiders own 6.64% of the company's stock.

Air Lease Stock Performance

Air Lease stock opened at $63.50 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The company has a market cap of $7.10 billion, a PE ratio of 7.71, a PEG ratio of 0.66 and a beta of 1.37. The company's 50-day moving average is $59.88 and its two-hundred day moving average is $54.80. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30.

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

Air Lease Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease's payout ratio is 10.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on AL. Barclays reiterated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a research note on Wednesday, September 3rd. Four research 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. Based on data from MarketBeat.com, 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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