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.
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.
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.
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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