Rhumbline Advisers Grows Position in Air Lease Corp (NYSE:AL)

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Rhumbline Advisers raised its holdings in shares of Air Lease Corp (NYSE:AL) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,712 shares of the transportation company’s stock after buying an additional 1,858 shares during the quarter. Rhumbline Advisers’ holdings in Air Lease were worth $3,501,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC grew its holdings in Air Lease by 6.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,451,922 shares of the transportation company’s stock worth $60,022,000 after purchasing an additional 84,935 shares during the period. Copper Rock Capital Partners LLC grew its holdings in Air Lease by 64.5% in the second quarter. Copper Rock Capital Partners LLC now owns 653,602 shares of the transportation company’s stock worth $27,020,000 after purchasing an additional 256,211 shares during the period. First Hawaiian Bank grew its holdings in Air Lease by 13.7% in the second quarter. First Hawaiian Bank now owns 9,298 shares of the transportation company’s stock worth $384,000 after purchasing an additional 1,122 shares during the period. Leith Wheeler Investment Counsel Ltd. grew its holdings in Air Lease by 3.5% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 89,986 shares of the transportation company’s stock worth $3,720,000 after purchasing an additional 3,060 shares during the period. Finally, OLD National Bancorp IN grew its holdings in Air Lease by 3.0% in the second quarter. OLD National Bancorp IN now owns 25,941 shares of the transportation company’s stock worth $1,072,000 after purchasing an additional 744 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on AL shares. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Friday, August 2nd. Finally, Cowen reiterated an “outperform” rating and set a $49.00 price target (down previously from $50.00) on shares of Air Lease in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Air Lease presently has an average rating of “Hold” and a consensus target price of $47.80.

In related news, Chairman Steven F. Udvar-Hazy sold 249,991 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.25, for a total transaction of $9,812,146.75. Following the transaction, the chairman now owns 1,334,842 shares in the company, valued at $52,392,548.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marc H. Baer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total transaction of $221,700.00. Following the transaction, the executive vice president now owns 130,008 shares in the company, valued at approximately $5,764,554.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 911,649 shares of company stock worth $35,904,901. Corporate insiders own 8.76% of the company’s stock.

NYSE:AL opened at $45.74 on Friday. The company’s 50 day moving average price is $42.65 and its 200-day moving average price is $40.52. Air Lease Corp has a 52 week low of $28.13 and a 52 week high of $47.54. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.43. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.87 and a beta of 1.87.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.05. Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The firm had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $525.63 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Air Lease Corp will post 5.15 earnings per share for the current year.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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