Zacks Research Upgrades AerSale (NASDAQ:ASLE) to “Hold”

AerSale (NASDAQ:ASLE) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

ASLE has been the topic of a number of other reports. B. Riley Financial initiated coverage on shares of AerSale in a research note on Monday. They set a “neutral” rating and a $7.50 price target on the stock. Weiss Ratings lowered shares of AerSale from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $7.17.

AerSale Trading Up 0.3%

Shares of AerSale stock opened at $6.57 on Wednesday. The stock has a market capitalization of $310.45 million, a P/E ratio of 29.86 and a beta of 0.27. AerSale has a 52-week low of $5.56 and a 52-week high of $9.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.89 and a current ratio of 3.74. The stock’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $6.85.

Insider Buying and Selling

In other AerSale news, insider Gary Edmund Jones sold 7,491 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $47,492.94. Following the sale, the insider directly owned 162,405 shares in the company, valued at $1,029,647.70. This represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the transaction, the insider owned 183,377 shares of the company’s stock, valued at $1,162,610.18. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 21,239 shares of company stock valued at $134,655. Company insiders own 20.10% of the company’s stock.

Institutional Trading of AerSale

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG raised its stake in AerSale by 6.0% in the fourth quarter. Deutsche Bank AG now owns 32,846 shares of the company’s stock worth $234,000 after buying an additional 1,850 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock valued at $55,000 after purchasing an additional 2,477 shares in the last quarter. Alliancebernstein L.P. grew its stake in AerSale by 6.0% in the third quarter. Alliancebernstein L.P. now owns 48,270 shares of the company’s stock worth $395,000 after purchasing an additional 2,740 shares during the period. Raymond James Financial Inc. raised its holdings in AerSale by 6.7% in the third quarter. Raymond James Financial Inc. now owns 44,360 shares of the company’s stock worth $363,000 after purchasing an additional 2,775 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in AerSale by 45.6% in the third quarter. BNP Paribas Financial Markets now owns 9,813 shares of the company’s stock worth $80,000 after purchasing an additional 3,071 shares in the last quarter. Hedge funds and other institutional investors own 69.48% of the company’s stock.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.