Insider Selling: Air Lease (NYSE:AL) Director Sells 48,000 Shares of Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 48,000 shares of Air Lease stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $63.96, for a total value of $3,070,080.00. Following the completion of the sale, the director directly owned 14,050 shares of the company’s stock, valued at $898,638. The trade was a 77.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Air Lease Stock Performance

Air Lease stock remained flat at $63.96 during midday trading on Thursday. The company had a trading volume of 2,018,915 shares, compared to its average volume of 2,128,448. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 7.41 and a beta of 1.19. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50-day simple moving average of $63.77 and a 200-day simple moving average of $60.75. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30.

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

Air Lease Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AL. Cetera Investment Advisers boosted its position in shares of Air Lease by 31.3% during the 1st quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock valued at $958,000 after purchasing an additional 4,725 shares in the last quarter. LPL Financial LLC lifted its stake in Air Lease by 11.3% during the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after purchasing an additional 4,601 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Air Lease by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,146,621 shares of the transportation company’s stock worth $55,393,000 after buying an additional 5,027 shares in the last quarter. Deutsche Bank AG grew its position in Air Lease by 7.8% in the first quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock worth $334,000 after buying an additional 500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Air Lease by 206.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,181 shares of the transportation company’s stock valued at $3,487,000 after buying an additional 48,600 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AL shares. Zacks Research cut Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Wednesday, September 3rd. TD Cowen cut 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 research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.50.

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.