Lighthouse Investment Partners LLC grew its holdings in Air Lease Co. (NYSE:AL - Free Report) by 1,944.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,261 shares of the transportation company's stock after acquiring an additional 122,940 shares during the period. Lighthouse Investment Partners LLC owned 0.12% of Air Lease worth $6,232,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in Air Lease during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Air Lease in the fourth quarter worth $31,000. Engine Capital Management LP purchased a new position in shares of Air Lease during the 4th quarter valued at $36,000. Brown Brothers Harriman & Co. lifted its stake in shares of Air Lease by 5,245.0% during the 4th 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. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Air Lease by 1,506.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after buying an additional 1,115 shares during the period. Institutional investors own 94.59% of the company's stock.
Analyst Upgrades and Downgrades
AL has been the topic of several research analyst reports. StockNews.com upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. UBS Group set a $50.00 price objective on shares of Air Lease in a report on Friday, March 7th. Finally, Bank of America downgraded shares of Air Lease from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.67.
Get Our Latest Report on AL
Insider Transactions at Air Lease
In related news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the transaction, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.64% of the company's stock.
Air Lease Price Performance
Shares of AL stock traded up $0.08 on Friday, reaching $57.48. The company's stock had a trading volume of 661,843 shares, compared to its average volume of 772,272. The stock's fifty day simple moving average is $46.83 and its 200-day simple moving average is $47.46. Air Lease Co. has a 1 year low of $38.25 and a 1 year high of $57.80. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.
Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. The business had revenue of $738.28 million during the quarter, compared to analysts' expectations of $709.70 million. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. The business's revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. Analysts forecast that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.
Air Lease Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, June 4th. Air Lease's dividend payout ratio is currently 15.38%.
About Air Lease
(
Free Report)
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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