Russell Investments Group Ltd. purchased a new stake in Fly Leasing Ltd (NYSE:FLY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 186,031 shares of the company’s stock, valued at approximately $2,495,000. Russell Investments Group Ltd. owned 0.57% of Fly Leasing at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLY. Uniplan Investment Counsel Inc. boosted its position in Fly Leasing by 1.7% in the third quarter. Uniplan Investment Counsel Inc. now owns 384,490 shares of the company’s stock valued at $4,456,000 after buying an additional 6,327 shares during the last quarter. Adirondack Research & Management Inc. boosted its position in Fly Leasing by 1.5% in the third quarter. Adirondack Research & Management Inc. now owns 605,154 shares of the company’s stock valued at $7,014,000 after buying an additional 8,900 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Fly Leasing by 30.8% in the third quarter. Donald Smith & CO. Inc. now owns 3,217,641 shares of the company’s stock valued at $37,292,000 after buying an additional 757,738 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its position in Fly Leasing by 10.9% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 277,937 shares of the company’s stock valued at $3,221,000 after buying an additional 27,332 shares during the last quarter. Finally, Joel Isaacson & Co. LLC acquired a new position in Fly Leasing during the third quarter valued at about $232,000. 52.70% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Fly Leasing (NYSE:FLY)

Fly Leasing Ltd (NYSE:FLY) opened at 13.36 on Tuesday. The company’s 50-day moving average price is $13.77 and its 200 day moving average price is $13.08. The company’s market cap is $430.94 million. Fly Leasing Ltd has a 52 week low of $9.54 and a 52 week high of $14.45.

Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, March 9th. The company reported ($1.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $2.55. The company had revenue of $100.60 million for the quarter, compared to the consensus estimate of $95.77 million. Fly Leasing had a return on equity of 17.29% and a net margin of 16.48%. Fly Leasing’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. On average, analysts anticipate that Fly Leasing Ltd will post $1.78 EPS for the current year.

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Several research firms have recently issued reports on FLY. Zacks Investment Research cut Fly Leasing from a “strong-buy” rating to a “hold” rating in a research note on Friday. TheStreet cut Fly Leasing from a “c” rating to a “d” rating in a research note on Thursday, March 9th. Compass Point raised Fly Leasing from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a research note on Friday, March 10th. Finally, Royal Bank of Canada decreased their price target on Fly Leasing from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.21.

Fly Leasing Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines. The Company operates through aircraft leasing segment. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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