Insider Selling: Air Lease (NYSE:AL) Director Sells 36,333 Shares of Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 36,333 shares of Air Lease stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $64.01, for a total value of $2,325,675.33. Following the completion of the sale, the director directly owned 15,050 shares in the company, valued at $963,350.50. This represents a 70.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Air Lease Stock Performance

NYSE AL traded down $0.12 on Tuesday, hitting $63.99. 1,598,469 shares of the company’s stock were exchanged, compared to its average volume of 2,121,652. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 7.41 and a beta of 1.19. The firm’s 50-day moving average price is $63.76 and its two-hundred day moving average price is $60.71. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The firm had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. On average, research analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s dividend payout ratio is 10.20%.

Wall Street Analyst Weigh In

Several analysts recently commented on AL shares. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut 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 lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AL. Brooklyn Investment Group raised its position 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 last quarter. True Wealth Design LLC increased its position in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after buying an additional 447 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Air Lease in the third quarter worth $29,000. First Horizon Corp purchased a new stake in shares of Air Lease in the third quarter valued at $31,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 407 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

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.