Voloridge Investment Management LLC Buys 47,472 Shares of Air Lease Co. (NYSE:AL)

Voloridge Investment Management LLC increased its stake in shares of Air Lease Co. (NYSE:AL) by 37.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 173,589 shares of the transportation company’s stock after buying an additional 47,472 shares during the quarter. Voloridge Investment Management LLC’s holdings in Air Lease were worth $8,369,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Air Lease during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. bought a new stake in Air Lease in the 4th quarter valued at about $31,000. Engine Capital Management LP purchased a new stake in Air Lease during the fourth quarter valued at about $36,000. Brown Brothers Harriman & Co. boosted its position in Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock worth $52,000 after purchasing an additional 1,049 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in Air Lease by 1,506.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company’s stock worth $57,000 after purchasing an additional 1,115 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

NYSE AL opened at $56.89 on Monday. The company’s 50 day simple moving average is $48.25 and its two-hundred day simple moving average is $47.98. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease Co. has a 1 year low of $38.25 and a 1 year high of $59.27. The stock has a market capitalization of $6.36 billion, a PE ratio of 17.08, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The company had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. Analysts predict that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.55%. Air Lease’s dividend payout ratio (DPR) is presently 15.38%.

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president now directly owns 146,316 shares of the company’s stock, valued at $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group set a $50.00 price target on shares of Air Lease in a research note on Friday, March 7th. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and lowered their target price for the company from $72.00 to $50.00 in a report on Friday, March 7th. JPMorgan Chase & Co. raised their price target on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Wall Street Zen upgraded Air Lease from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, Citigroup raised Air Lease from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Air Lease 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.