Sage Rhino Capital LLC Takes $222,000 Position in Air Lease Corporation $AL

Sage Rhino Capital LLC bought a new stake in shares of Air Lease Corporation (NYSE:AL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,801 shares of the transportation company’s stock, valued at approximately $222,000.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Air Lease during the first quarter valued at $25,000. Brooklyn Investment Group boosted its stake in shares of Air Lease by 152.4% during the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after purchasing an additional 355 shares during the period. Versant Capital Management Inc grew its holdings in Air Lease by 88.1% during the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 348 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after purchasing an additional 647 shares during the period. Finally, SVB Wealth LLC bought a new stake in Air Lease in the first quarter worth about $52,000. 94.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AL. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Barclays reiterated an “overweight” rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.29.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Beker sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the sale, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $746,380 in the last quarter. 6.80% of the stock is owned by insiders.

Air Lease Stock Down 0.2%

NYSE:AL opened at $63.50 on Monday. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.30. The company has a 50-day moving average of $59.88 and a 200 day moving average of $54.95. The firm has a market cap of $7.10 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, research analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease’s dividend payout ratio is 10.68%.

About Air Lease

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.