AeroCentury (ACY) Lowered to “C” at TheStreet

TheStreet lowered shares of AeroCentury (NYSEAMERICAN:ACY) from a b- rating to a c rating in a research note released on Thursday morning.

Separately, Zacks Investment Research upgraded shares of AeroCentury from a sell rating to a hold rating in a research report on Tuesday, July 31st.

Shares of NYSEAMERICAN ACY traded up $0.57 during midday trading on Thursday, reaching $12.05. The stock had a trading volume of 1,688 shares, compared to its average volume of 3,352. AeroCentury has a twelve month low of $10.26 and a twelve month high of $17.34.

AeroCentury (NYSEAMERICAN:ACY) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $7.17 million during the quarter, compared to analyst estimates of $7.57 million.

A hedge fund recently raised its stake in AeroCentury stock. Leisure Capital Management lifted its position in AeroCentury Corp. (NYSEAMERICAN:ACY) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,952 shares of the company’s stock after acquiring an additional 4,332 shares during the quarter. Leisure Capital Management owned approximately 3.59% of AeroCentury worth $808,000 at the end of the most recent reporting period.

About AeroCentury

AeroCentury Corp., together with its subsidiaries, acquires and leases aircraft and aircraft engines to regional airlines in the United States and internationally. The company provides operating and finance leasing services of mid-life regional aircraft to carriers. It also sells aircraft from its operating lease portfolio to third parties, which includes other leasing companies, financial services companies, and airlines, as well as engages in parting out aircraft.

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