Short Interest in Air Lease Corporation (NYSE:AL) Grows By 39.0%
by Sarita Garza · The Markets DailyAir Lease Corporation (NYSE:AL – Get Free Report) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 3,167,761 shares, a growth of 39.0% from the January 29th total of 2,279,286 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 1,803,003 shares, the short-interest ratio is presently 1.8 days. Based on an average trading volume of 1,803,003 shares, the short-interest ratio is presently 1.8 days. Currently, 3.0% of the company’s stock are sold short.
Air Lease Price Performance
Shares of AL stock traded up $0.02 during mid-day trading on Wednesday, hitting $64.74. The company had a trading volume of 297,208 shares, compared to its average volume of 1,594,867. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. The stock’s 50 day moving average price is $64.49 and its 200-day moving average price is $63.69. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.96. The company has a market capitalization of $7.25 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.53 and a beta of 1.11.
Air Lease (NYSE:AL – Get Free Report) last posted its earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The company had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts forecast that Air Lease will post 5.16 earnings per share for the current year.
Air Lease Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s dividend payout ratio is currently 9.45%.
Insider Buying and Selling
In related news, CEO John L. Plueger sold 155,821 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the transaction, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. This represents a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 595,958 shares of company stock worth $38,158,193 in the last three months. Insiders own 6.80% of the company’s stock.
Institutional Trading of Air Lease
A number of hedge funds and other institutional investors have recently bought and sold shares of AL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Air Lease by 21.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after purchasing an additional 9,056 shares during the last quarter. Millennium Management LLC raised its holdings in Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock worth $9,855,000 after purchasing an additional 192,508 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Air Lease by 493.5% during the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock valued at $429,000 after buying an additional 7,387 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Air Lease by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock valued at $15,784,000 after buying an additional 15,629 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Air Lease by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock worth $14,410,000 after buying an additional 41,912 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Barclays reissued an “equal weight” rating and issued a $65.00 target price (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.60.
Check Out Our Latest Stock Analysis on AL
Air Lease Company Profile
Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.
Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.