Y Intercept Hong Kong Ltd Sells 7,714 Shares of Air Lease Corporation (NYSE:AL)

Key Points

• Y Intercept Hong Kong Ltd sold 7,714 shares of Air Lease Corporation, reducing its holdings by 58.2% to 5,540 shares worth $268,000.
• Institutional investors own 94.59% of Air Lease's stock, indicating significant interest and investment in the company.
• Air Lease reported an earnings per share (EPS) of $1.51 for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 11.3%.

Y Intercept Hong Kong Ltd decreased its position in Air Lease Corporation (NYSE:AL - Free Report) by 58.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,540 shares of the transportation company's stock after selling 7,714 shares during the period. Y Intercept Hong Kong Ltd's holdings in Air Lease were worth $268,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in shares of Air Lease in the first quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Air Lease in the fourth quarter valued at $28,000. Versant Capital Management Inc grew its stake in shares of Air Lease by 88.1% in the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock valued at $36,000 after buying an additional 348 shares in the last quarter. Engine Capital Management LP bought a new position in shares of Air Lease in the fourth quarter valued at $36,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after buying an additional 1,049 shares in the last quarter. Institutional investors own 94.59% of the company's stock.

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the sale, the executive vice president directly owned 146,316 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Insiders own 6.64% of the company's stock.

Wall Street Analyst Weigh In

AL has been the topic of a number of recent analyst reports. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Barclays reissued an "overweight" rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, Air Lease presently has an average rating of "Moderate Buy" and an average target price of $59.50.

Air Lease Price Performance

Shares of AL stock traded down $1.07 on Friday, hitting $54.33. 1,079,516 shares of the company's stock were exchanged, compared to its average volume of 845,953. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $60.41. The stock has a market cap of $6.07 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 0.61 and a beta of 1.35. The company has a 50 day moving average of $57.65 and a 200 day moving average of $50.93.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $709.70 million. During the same period in the prior year, the company earned $0.87 EPS. Air Lease's revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

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.