Air Lease (NYSE:AL) Director Steven Udvar-Hazy Sells 64,000 Shares

by · The Markets Daily

Air Lease Corporation (NYSE:AL – Get Free Report) Director Steven Udvar-Hazy sold 64,000 shares of Air Lease stock in a transaction on Friday, December 12th. The stock was sold at an average price of $64.02, for a total value of $4,097,280.00. Following the sale, the director owned 74,000 shares in the company, valued at $4,737,480. This trade represents a 46.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Air Lease Stock Performance

NYSE AL traded down $0.03 during trading hours on Tuesday, reaching $64.22. 1,144,588 shares of the company were exchanged, compared to its average volume of 2,194,240. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.40. The business’s 50 day simple moving average is $63.80 and its 200-day simple moving average is $60.93. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $7.18 billion, a P/E ratio of 7.44 and a beta of 1.19.

Air Lease (NYSE:AL – Get Free Report) last issued its quarterly earnings data 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. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The business had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on AL shares. Zacks Research lowered shares of Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. 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 note on Wednesday, September 3rd. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.50.

View Our Latest Report on AL

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AL. LPL Financial LLC increased its holdings in shares of Air Lease by 11.3% in the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after purchasing an additional 4,601 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Air Lease by 7.8% during the first quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock valued at $334,000 after buying an additional 500 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Air Lease by 399.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 33,930 shares of the transportation company’s stock worth $1,639,000 after buying an additional 27,136 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Air Lease in the 1st quarter worth about $546,000. Finally, Algert Global LLC purchased a new position in Air Lease in the 1st quarter worth about $1,988,000. 94.59% of the stock is owned by institutional investors.

About Air Lease

(Get Free Report)

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.

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