Wells Fargo & Company MN grew its position in Fly Leasing Ltd (NYSE:FLY) by 74.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,750 shares of the transportation company’s stock after acquiring an additional 108,664 shares during the period. Wells Fargo & Company MN owned about 0.89% of Fly Leasing worth $4,435,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of Fly Leasing by 211.0% during the second quarter. Parallel Advisors LLC now owns 1,813 shares of the transportation company’s stock worth $32,000 after purchasing an additional 1,230 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Fly Leasing during the second quarter worth about $818,000. Aperio Group LLC increased its stake in shares of Fly Leasing by 24.0% during the second quarter. Aperio Group LLC now owns 75,343 shares of the transportation company’s stock worth $1,312,000 after purchasing an additional 14,588 shares in the last quarter. Zazove Associates LLC increased its stake in shares of Fly Leasing by 3.8% during the second quarter. Zazove Associates LLC now owns 104,894 shares of the transportation company’s stock worth $1,826,000 after purchasing an additional 3,828 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in shares of Fly Leasing by 95.4% during the first quarter. Monarch Partners Asset Management LLC now owns 166,985 shares of the transportation company’s stock worth $2,311,000 after purchasing an additional 81,545 shares in the last quarter. Institutional investors and hedge funds own 43.55% of the company’s stock.

A number of analysts have recently commented on the stock. Compass Point set a $23.00 target price on shares of Fly Leasing and gave the stock a “buy” rating in a research note on Friday, August 23rd. ValuEngine raised shares of Fly Leasing from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Zacks Investment Research raised shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Fly Leasing currently has a consensus rating of “Buy” and an average price target of $21.67.

NYSE FLY traded up $0.13 during trading hours on Thursday, hitting $20.95. 1,425 shares of the company’s stock traded hands, compared to its average volume of 382,317. Fly Leasing Ltd has a 52-week low of $10.42 and a 52-week high of $22.11. The company has a market capitalization of $646.56 million, a PE ratio of 6.85 and a beta of 0.87. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average is $19.08 and its 200-day moving average is $16.33.

Fly Leasing (NYSE:FLY) last announced its quarterly earnings data on Thursday, August 22nd. The transportation company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.47. Fly Leasing had a net margin of 29.64% and a return on equity of 22.62%. The company had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $140.40 million. During the same quarter in the prior year, the company earned $0.90 EPS. Fly Leasing’s revenue was up 43.1% compared to the same quarter last year. Equities research analysts predict that Fly Leasing Ltd will post 5.78 earnings per share for the current fiscal year.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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

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