ARGA Investment Management LP Buys 33,210 Shares of Air Lease Co. (NYSE:AL)

ARGA Investment Management LP grew its stake in shares of Air Lease Co. (NYSE:AL - Free Report) by 137.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,444 shares of the transportation company's stock after buying an additional 33,210 shares during the period. ARGA Investment Management LP owned 0.05% of Air Lease worth $2,409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Air Lease in the third quarter worth approximately $40,000. Quantbot Technologies LP bought a new position in shares of Air Lease in the third quarter worth approximately $48,000. Hexagon Capital Partners LLC increased its position in shares of Air Lease by 1,341.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company's stock worth $53,000 after purchasing an additional 1,167 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Air Lease in the fourth quarter worth approximately $77,000. Finally, SRS Capital Advisors Inc. increased its position in shares of Air Lease by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company's stock worth $103,000 after purchasing an additional 683 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Air Lease from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. Barclays upped their target price on Air Lease from $48.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. StockNews.com lowered Air Lease from a "buy" rating to a "hold" rating in a research note on Friday, March 29th. Finally, TD Cowen cut their target price on Air Lease from $59.00 to $56.00 and set a "buy" rating for the company in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.80.

Insider Activity

In related news, EVP Kishore Korde sold 16,593 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the transaction, the executive vice president now owns 112,375 shares of the company's stock, valued at $4,461,287.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares of the company's stock, valued at $2,884,361.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of Air Lease stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the transaction, the executive vice president now owns 112,375 shares in the company, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Insiders sold 89,646 shares of company stock valued at $3,705,152 in the last quarter. 6.64% of the stock is currently owned by insiders.

Air Lease Trading Down 1.5 %

AL stock traded down $0.75 on Thursday, reaching $49.42. The company's stock had a trading volume of 552,500 shares, compared to its average volume of 1,282,445. The business has a fifty day simple moving average of $49.06 and a two-hundred day simple moving average of $43.20. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $5.50 billion, a PE ratio of 10.11, a PEG ratio of 0.61 and a beta of 1.63. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $52.31.

Air Lease (NYSE:AL - Get Free Report) last issued its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.07). Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The firm had revenue of $663.31 million during the quarter, compared to the consensus estimate of $677.26 million. During the same quarter in the prior year, the company posted $1.06 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts forecast that Air Lease Co. will post 6.2 EPS for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.70%. Air Lease's payout ratio is 16.94%.

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.

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