Short Interest in Air Lease Corporation (NYSE:AL) Decreases By 33.1%

Air Lease Corporation (NYSE:AL - Get Free Report) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,240,000 shares, a drop of 33.1% from the August 31st total of 3,350,000 shares. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is presently 1.5 days. Currently, 2.2% of the company's stock are short sold. Currently, 2.2% of the company's stock are short sold. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is presently 1.5 days.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 5,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company's stock, valued at $887,514.10. This represents a 26.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Grant A. Levy sold 5,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the transaction, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $746,380 over the last three months. Insiders own 6.64% of the company's stock.

Institutional Investors Weigh In On Air Lease

A number of institutional investors and hedge funds have recently bought and sold shares of AL. Alpine Bank Wealth Management purchased a new position in shares of Air Lease during the first quarter valued at about $25,000. Brooklyn Investment Group grew its position in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock valued at $28,000 after purchasing an additional 355 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company's stock valued at $33,000 after purchasing an additional 407 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Air Lease by 264.1% during the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock valued at $43,000 after purchasing an additional 647 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Air Lease by 120.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company's stock valued at $46,000 after purchasing an additional 432 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

NYSE:AL opened at $63.70 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The business's 50-day simple moving average is $60.47 and its two-hundred day simple moving average is $55.53. The stock has a market cap of $7.12 billion, a PE ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.37. Air Lease has a 52 week low of $38.25 and a 52 week high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million for the quarter, compared to analysts' expectations of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. As a group, analysts forecast that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's dividend payout ratio (DPR) is currently 10.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AL shares. Deutsche Bank Aktiengesellschaft cut Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Air Lease in a report on Saturday, September 27th. Cowen cut Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. TD Cowen cut Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Barclays reaffirmed an "overweight" rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $60.29.

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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