Verity Asset Management Inc. Invests $348,000 in Air Lease Corporation (NYSE:AL)

Verity Asset Management Inc. purchased a new stake in Air Lease Corporation (NYSE:AL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,195 shares of the transportation company's stock, valued at approximately $348,000.

A number of other institutional investors also recently modified their holdings of the business. Alpine Bank Wealth Management purchased a new stake in Air Lease during the 1st quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Air Lease in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Air Lease in the fourth quarter worth about $31,000. Engine Capital Management LP bought a new position in shares of Air Lease in the fourth quarter valued at approximately $36,000. Finally, Versant Capital Management Inc grew its stake in Air Lease by 88.1% during the first 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 in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on AL. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and increased their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group set a $50.00 target price on Air Lease in a research report 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $57.43.

Air Lease Stock Performance

Air Lease stock opened at $58.52 on Tuesday. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $59.27. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $6.54 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. The firm's fifty day moving average price is $54.71 and its 200-day moving average price is $49.35.

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

Air Lease Dividend Announcement

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

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the sale, the executive vice president owned 146,316 shares of the company's stock, valued at $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.80% of the company's stock.

Air Lease 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.

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