Fly Leasing (FLY) Sees Unusually-High Trading Volume

Fly Leasing Ltd (NYSE:FLY) shares saw strong trading volume on Monday . 933,185 shares changed hands during trading, an increase of 527% from the previous session’s volume of 148,827 shares.The stock last traded at $13.39 and had previously closed at $12.79.

Several equities research analysts have issued reports on the company. Citigroup assumed coverage on Fly Leasing in a report on Friday, December 8th. They set a “sell” rating and a $13.50 price target for the company. Zacks Investment Research downgraded Fly Leasing from a “hold” rating to a “strong sell” rating in a report on Monday, November 13th. ValuEngine raised Fly Leasing from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. lifted their target price on Fly Leasing from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.70.

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The company has a quick ratio of 1.18, a current ratio of 1.42 and a debt-to-equity ratio of 4.87. The company has a market capitalization of $384.26, a price-to-earnings ratio of -6.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.10.

Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, March 8th. The transportation company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.28). Fly Leasing had a return on equity of 2.74% and a net margin of 0.74%. The firm had revenue of $107.93 million for the quarter, compared to analyst estimates of $106.96 million. During the same period in the prior year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. analysts anticipate that Fly Leasing Ltd will post 2.03 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of FLY. JPMorgan Chase & Co. bought a new position in shares of Fly Leasing in the third quarter worth $102,000. Virtu Financial LLC increased its position in shares of Fly Leasing by 35.0% in the fourth quarter. Virtu Financial LLC now owns 17,173 shares of the transportation company’s stock worth $222,000 after purchasing an additional 4,451 shares during the period. Jane Street Group LLC bought a new position in shares of Fly Leasing in the fourth quarter worth $252,000. Parametric Portfolio Associates LLC increased its position in shares of Fly Leasing by 8.2% in the second quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock worth $253,000 after purchasing an additional 1,424 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Fly Leasing by 27.1% in the third quarter. Allianz Asset Management GmbH now owns 22,481 shares of the transportation company’s stock worth $315,000 after purchasing an additional 4,798 shares during the period. 45.36% of the stock is owned by institutional investors.

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Fly Leasing Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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