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.
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.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by BBNS and is owned by of BBNS. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://baseballnewssource.com/2018/11/10/united-services-automobile-association-has-2-47-million-position-in-fly-leasing-ltd-fly/2846786.html.
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 Dún Laoghaire, Ireland.
Further Reading: Trading Penny Stocks
Receive News & Ratings for Fly Leasing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fly Leasing and related companies with MarketBeat.com's FREE daily email newsletter.