Rhumbline Advisers Raises Stock Position in Air Lease Corp (NYSE:AL)

Rhumbline Advisers lifted its position in Air Lease Corp (NYSE:AL) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,712 shares of the transportation company’s stock after buying an additional 1,858 shares during the period. Rhumbline Advisers owned approximately 0.07% of Air Lease worth $3,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Air Lease by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,198,577 shares of the transportation company’s stock worth $380,269,000 after buying an additional 72,123 shares during the last quarter. Lyrical Asset Management LP purchased a new stake in Air Lease during the 2nd quarter worth approximately $168,541,000. Douglas Lane & Associates LLC grew its position in Air Lease by 6.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 1,451,922 shares of the transportation company’s stock worth $60,022,000 after purchasing an additional 84,935 shares during the last quarter. Bank of America Corp DE grew its position in Air Lease by 65.5% during the 2nd quarter. Bank of America Corp DE now owns 1,318,676 shares of the transportation company’s stock worth $54,515,000 after purchasing an additional 522,002 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its position in Air Lease by 1.3% during the 2nd quarter. Vontobel Asset Management Inc. now owns 1,310,287 shares of the transportation company’s stock worth $54,165,000 after purchasing an additional 16,641 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:AL opened at $45.74 on Friday. The company has a market cap of $5.22 billion, a PE ratio of 9.94, a P/E/G ratio of 0.87 and a beta of 1.87. Air Lease Corp has a twelve month low of $28.13 and a twelve month high of $47.54. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.43. The company’s 50 day moving average is $42.65 and its two-hundred day moving average is $40.52.

Air Lease (NYSE:AL) last released its earnings results on Thursday, November 7th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.05. The company had revenue of $531.00 million for the quarter, compared to the consensus estimate of $525.63 million. Air Lease had a net margin of 30.00% and a return on equity of 11.16%. Air Lease’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. As a group, analysts expect that Air Lease Corp will post 5.15 EPS for the current fiscal year.

In other Air Lease news, EVP Marc H. Baer sold 5,000 shares of Air Lease stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total transaction of $221,700.00. Following the completion of the sale, the executive vice president now directly owns 130,008 shares in the company, valued at approximately $5,764,554.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven F. Udvar-Hazy sold 507,789 shares of Air Lease stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.58, for a total transaction of $19,590,499.62. Following the sale, the insider now owns 1,334,842 shares of the company’s stock, valued at $51,498,204.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 911,649 shares of company stock valued at $35,904,901. Company insiders own 8.76% of the company’s stock.

Several research firms have weighed in on AL. Cowen reissued an “outperform” rating and set a $49.00 target price (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.80.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

See Also: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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