Fly Leasing (NYSE:FLY) Share Price Passes Above Two Hundred Day Moving Average of $18.73
Shares of Fly Leasing Ltd (NYSE:FLY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.73 and traded as high as $20.08. Fly Leasing shares last traded at $19.79, with a volume of 976 shares traded.
A number of research firms have recently commented on FLY. 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. JPMorgan Chase & Co. raised shares of Fly Leasing from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $27.50 in a research note on Monday, October 21st. Zacks Investment Research cut shares of Fly Leasing from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, ValuEngine cut shares of Fly Leasing from a “sell” rating to a “strong sell” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.13.
The company has a market cap of $610.86 million, a PE ratio of 6.49 and a beta of 0.78. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.51 and a current ratio of 1.51. The firm’s 50 day moving average is $20.03 and its 200-day moving average is $18.73.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in Fly Leasing by 68.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 116,694 shares of the transportation company’s stock valued at $2,378,000 after acquiring an additional 47,520 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Fly Leasing by 85.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 28,211 shares of the transportation company’s stock valued at $579,000 after purchasing an additional 12,991 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fly Leasing by 563.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 84,893 shares of the transportation company’s stock valued at $1,476,000 after purchasing an additional 72,105 shares during the last quarter. Millennium Management LLC boosted its holdings in Fly Leasing by 523.7% in the 3rd quarter. Millennium Management LLC now owns 742,335 shares of the transportation company’s stock valued at $15,225,000 after purchasing an additional 623,322 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Fly Leasing in the 3rd quarter valued at about $485,000. 43.51% of the stock is owned by institutional investors.
Fly Leasing Company Profile (NYSE:FLY)
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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