Y Intercept Hong Kong Ltd Buys 53,940 Shares of Air Lease Corporation $AL

Y Intercept Hong Kong Ltd lifted its stake in shares of Air Lease Corporation (NYSE:AL) by 973.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,480 shares of the transportation company’s stock after acquiring an additional 53,940 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.05% of Air Lease worth $3,479,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AL. GAMMA Investing LLC grew its position in Air Lease by 79.3% in the first quarter. GAMMA Investing LLC now owns 4,140 shares of the transportation company’s stock valued at $200,000 after purchasing an additional 1,831 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Air Lease by 8.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,808 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 1,243 shares in the last quarter. Bessemer Group Inc. grew its position in Air Lease by 18.7% in the first quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company’s stock valued at $503,000 after purchasing an additional 1,640 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Air Lease in the first quarter valued at $747,000. Finally, MBM Wealth Consultants LLC grew its position in Air Lease by 2.1% in the first quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock valued at $686,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

Shares of Air Lease stock opened at $63.72 on Thursday. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.30. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The company has a 50-day simple moving average of $63.04 and a two-hundred day simple moving average of $57.81. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share 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 business had revenue of $731.70 million during the quarter, compared to analysts’ expectations of $723.35 million. During the same quarter in the previous year, the company earned $1.23 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Insider Activity

In other Air Lease news, 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 value of $317,650.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at $887,514.10. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction 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. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 12,000 shares of company stock worth $746,380. Insiders own 6.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 price objective for the company. in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. TD Cowen downgraded shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.29.

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.