United Services Automobile Association Reduces Holdings in Fly Leasing Ltd (FLY)

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United Services Automobile Association lessened its stake in shares of Fly Leasing Ltd (NYSE:FLY) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,500 shares of the transportation company’s stock after selling 38,300 shares during the period. United Services Automobile Association owned approximately 0.61% of Fly Leasing worth $2,473,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC purchased a new position in Fly Leasing in the 2nd quarter valued at about $344,000. Cozad Asset Management Inc. purchased a new position in Fly Leasing in the 2nd quarter valued at about $316,000. Point72 Asset Management L.P. lifted its stake in Fly Leasing by 110.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 287,453 shares of the transportation company’s stock valued at $4,050,000 after buying an additional 150,603 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Fly Leasing by 39.7% in the 2nd quarter. Renaissance Technologies LLC now owns 274,280 shares of the transportation company’s stock valued at $3,865,000 after buying an additional 77,931 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in Fly Leasing by 27.0% in the 2nd quarter. Citadel Advisors LLC now owns 25,715 shares of the transportation company’s stock valued at $363,000 after buying an additional 5,468 shares in the last quarter. 49.12% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on FLY shares. Zacks Investment Research raised shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday. TheStreet raised shares of Fly Leasing from a “d+” rating to a “c-” rating in a research note on Wednesday, September 19th. ValuEngine lowered shares of Fly Leasing from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Citigroup raised their target price on shares of Fly Leasing from $14.00 to $14.50 and gave the stock a “sell” rating in a research note on Friday, August 24th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Fly Leasing currently has an average rating of “Hold” and a consensus target price of $18.63.

Shares of NYSE FLY traded down $0.10 during midday trading on Friday, reaching $13.34. 142,204 shares of the stock were exchanged, compared to its average volume of 57,506. The company has a market capitalization of $377.09 million, a P/E ratio of 148.22, a P/E/G ratio of 0.56 and a beta of 1.01. The company has a debt-to-equity ratio of 4.29, a current ratio of 1.33 and a quick ratio of 1.33. Fly Leasing Ltd has a twelve month low of $11.54 and a twelve month high of $15.32.

Fly Leasing (NYSE:FLY) last announced its quarterly earnings results on Thursday, November 8th. The transportation company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.28. The business had revenue of $104.60 million during the quarter, compared to the consensus estimate of $100.68 million. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) EPS. As a group, research analysts expect that Fly Leasing Ltd will post 2.36 EPS for the current year.

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Fly Leasing Profile

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in DĂșn Laoghaire, Ireland.

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

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