Air Lease Corp (AL) CEO Sells $1,955,393.89 in Stock
Air Lease Corp (NYSE:AL) CEO John L. Plueger sold 50,671 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $38.59, for a total transaction of $1,955,393.89. Following the sale, the chief executive officer now owns 914,145 shares in the company, valued at $35,276,855.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
AL stock opened at $37.62 on Monday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.81 and a current ratio of 0.81. Air Lease Corp has a fifty-two week low of $28.13 and a fifty-two week high of $47.34. The company has a market cap of $4.18 billion, a P/E ratio of 8.18, a PEG ratio of 0.91 and a beta of 2.04.
Air Lease (NYSE:AL) last released its earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.01. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. The firm had revenue of $466.00 million for the quarter, compared to analyst estimates of $456.91 million. During the same period in the prior year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Air Lease Corp will post 5.54 EPS for the current year.
A number of brokerages have issued reports on AL. Zacks Investment Research upgraded shares of Air Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine upgraded shares of Air Lease from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. TheStreet upgraded shares of Air Lease from a “c+” rating to a “b-” rating in a research note on Wednesday, January 30th. Finally, Goldman Sachs Group started coverage on shares of Air Lease in a research note on Monday, April 8th. They set a “buy” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Air Lease has an average rating of “Buy” and an average target price of $55.56.
Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in Air Lease in the fourth quarter valued at approximately $6,868,000. Douglas Lane & Associates LLC increased its stake in Air Lease by 5.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 1,279,721 shares of the transportation company’s stock valued at $38,660,000 after purchasing an additional 65,558 shares during the last quarter. Brandywine Global Investment Management LLC increased its stake in Air Lease by 12.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 321,860 shares of the transportation company’s stock valued at $9,724,000 after purchasing an additional 35,213 shares during the last quarter. Gagnon Securities LLC increased its stake in Air Lease by 16.3% in the fourth quarter. Gagnon Securities LLC now owns 732,515 shares of the transportation company’s stock valued at $22,129,000 after purchasing an additional 102,713 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in Air Lease by 118.1% in the first quarter. Denali Advisors LLC now owns 82,000 shares of the transportation company’s stock valued at $2,817,000 after purchasing an additional 44,400 shares during the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.
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Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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