Raffles Associates LP Invests $2.91 Million in AerSale Corporation $ASLE

Key Points

• Raffles Associates LP acquired 460,000 AerSale shares worth approximately $2.91 million, representing a 0.96% stake and 2.6% of the firm’s portfolio. Institutional investors collectively own 69.48% of AerSale.
• Analyst sentiment remains cautious: AerSale has an average “Reduce” rating and an average price target of $6.83, with ratings ranging from Hold to Sell.
• AerSale reported a quarterly loss of $0.09 per share, missing the $0.06 consensus estimate, while revenue of $70.93 million fell short of expectations of $81.24 million. Shares recently opened at $5.61, near their 12-month low of $5.52.

Raffles Associates LP purchased a new position in AerSale Corporation (NASDAQ:ASLE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 460,000 shares of the company's stock, valued at approximately $2,907,000. AerSale makes up 2.6% of Raffles Associates LP's portfolio, making the stock its 12th biggest holding. Raffles Associates LP owned about 0.96% of AerSale as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in AerSale during the second quarter worth about $254,000. The Manufacturers Life Insurance Company bought a new position in shares of AerSale during the second quarter valued at approximately $65,000. Algert Global LLC lifted its holdings in shares of AerSale by 53.5% during the second quarter. Algert Global LLC now owns 66,453 shares of the company's stock valued at $420,000 after purchasing an additional 23,170 shares during the last quarter. BlackRock Inc. purchased a new position in shares of AerSale during the second quarter valued at approximately $17,358,000. Finally, Deutsche Bank AG bought a new stake in shares of AerSale in the 2nd quarter worth approximately $228,000. 69.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gary Edmund Jones sold 7,491 shares of AerSale stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $47,492.94. Following the completion of the sale, the insider directly owned 162,405 shares in the company, valued at approximately $1,029,647.70. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of AerSale stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $38,635.96. Following the completion of the sale, the insider owned 183,377 shares of the company's stock, valued at $1,162,610.18. The trade was a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,316 shares of company stock valued at $135,160 over the last ninety days. 20.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ASLE. Zacks Research upgraded AerSale to a "hold" rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a "sell (d)" rating on shares of AerSale in a report on Wednesday, August 12th. B. Riley Financial started coverage on AerSale in a research note on Monday, June 29th. They issued a "neutral" rating and a $7.50 target price on the stock. Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Royal Bank Of Canada lowered their price target on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $6.83.

AerSale Price Performance

Shares of NASDAQ ASLE opened at $5.61 on Wednesday. AerSale Corporation has a twelve month low of $5.52 and a twelve month high of $9.08. The firm has a market cap of $267.77 million, a P/E ratio of -70.12 and a beta of 0.28. The company has a 50 day moving average of $6.14 and a 200 day moving average of $6.50. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01.

AerSale (NASDAQ:ASLE - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The business had revenue of $70.93 million for the quarter, compared to analysts' expectations of $81.24 million. AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. As a group, research analysts expect that AerSale Corporation will post 0.03 EPS for the current fiscal year.

AerSale Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.

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