Air Lease (NYSE:AL) Director Sells $2,303,640.00 in Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $63.99, for a total transaction of $2,303,640.00. Following the sale, the director directly owned 1,011,658 shares of the company’s stock, valued at approximately $64,735,995.42. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Air Lease Price Performance

Shares of NYSE:AL remained flat at $63.96 during mid-day trading on Thursday. 2,018,915 shares of the stock traded hands, compared to its average volume of 2,128,448. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.30. The company has a 50 day moving average of $63.77 and a two-hundred day moving average of $60.75. The firm has a market capitalization of $7.15 billion, a P/E ratio of 7.41 and a beta of 1.19.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same period in the prior year, the firm earned $0.82 earnings per share. Air Lease’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is currently 10.20%.

Institutional Trading of Air Lease

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of Air Lease by 371.6% in the third quarter. Allworth Financial LP now owns 2,226 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 1,754 shares in the last quarter. IFP Advisors Inc purchased a new stake in Air Lease in the 3rd quarter valued at $38,000. Swiss Life Asset Management Ltd bought a new position in Air Lease during the 3rd quarter valued at $305,000. Polar Asset Management Partners Inc. purchased a new position in Air Lease during the 3rd quarter worth $6,365,000. Finally, Cantor Fitzgerald L. P. purchased a new position in Air Lease during the 3rd quarter worth $2,010,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 3rd. Zacks Research downgraded Air Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, October 8th. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Four equities 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 data from MarketBeat, Air Lease currently has a consensus rating of “Hold” and an average price target of $59.50.

Air Lease Company Profile

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.