Yousif Capital Management LLC Raises Holdings in Air Lease Corporation $AL

Yousif Capital Management LLC lifted its holdings in shares of Air Lease Corporation (NYSE:AL) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,004 shares of the transportation company’s stock after purchasing an additional 273 shares during the period. Yousif Capital Management LLC’s holdings in Air Lease were worth $2,398,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Air Lease during the 1st quarter worth approximately $25,000. Brooklyn Investment Group raised its position in shares of Air Lease by 152.4% in the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock valued at $28,000 after buying an additional 355 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Air Lease by 264.1% in the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after buying an additional 647 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Air Lease in the first quarter valued at approximately $52,000. Finally, Hilltop National Bank acquired a new position in shares of Air Lease in the second quarter valued at approximately $127,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Barclays reissued an “overweight” rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Wednesday, September 3rd. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.29.

Air Lease Price Performance

Air Lease stock opened at $63.67 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.30. The firm has a 50 day moving average price of $62.07 and a 200 day moving average price of $56.47. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The company had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. During the same period in the previous year, the firm earned $1.23 earnings per share. Air Lease’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

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

Insider Activity at Air Lease

In other Air Lease news, EVP David Beker sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 13,970 shares in the company, valued at $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $746,380. 6.64% of the stock is owned by insiders.

Air Lease Company 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.