Tudor Investment Corp ET AL Lowers Stake in Air Lease Corporation $AL

Key Points

• Tudor Investment Corp cut its stake in Air Lease by 89.8% in Q3, selling 340,440 shares and leaving it with 38,696 shares worth $2.463 million per its SEC filing.
• Air Lease beat EPS estimates with $2.20 earnings per share (vs. $1.46 expected) while revenue missed at $679.54M (analysts $782.67M); the company also declared a quarterly dividend of $0.22 ($0.88 annualized, 1.4% yield).
• The stock trades near its 52‑week high at $65.00 with a market cap of $7.28B and a relatively low valuation (PE 6.98), and about 94.6% of shares are held by institutional investors.

Tudor Investment Corp ET AL lowered its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 89.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,696 shares of the transportation company's stock after selling 340,440 shares during the quarter. Tudor Investment Corp ET AL's holdings in Air Lease were worth $2,463,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Archer Investment Corp lifted its holdings in Air Lease by 5.1% during the third quarter. Archer Investment Corp now owns 3,415 shares of the transportation company's stock valued at $217,000 after purchasing an additional 165 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company's stock valued at $253,000 after buying an additional 181 shares during the last quarter. Eastern Bank raised its position in shares of Air Lease by 33.2% during the third quarter. Eastern Bank now owns 799 shares of the transportation company's stock valued at $51,000 after buying an additional 199 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Air Lease by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 34,994 shares of the transportation company's stock valued at $2,227,000 after buying an additional 201 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Air Lease by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company's stock valued at $710,000 after buying an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Stock Performance

Shares of AL opened at $65.00 on Friday. The company's fifty day moving average is $64.75 and its 200 day moving average is $64.23. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $65.00. The stock has a market capitalization of $7.28 billion, a PE ratio of 6.98, a P/E/G ratio of 0.54 and a beta of 1.07. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.74. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The company had revenue of $679.54 million for the quarter, compared to analysts' expectations of $782.67 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. Air Lease's quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Investors of record on Monday, March 2nd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, March 2nd. Air Lease's payout ratio is currently 9.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Air Lease from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Barclays reiterated an "equal weight" rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Air Lease in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.00.

Air Lease Company Profile

Air Lease Corporation NYSE: AL is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm's core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.