Wolverine Asset Management LLC Buys Shares of 48,867 Air Lease Corporation $AL

Wolverine Asset Management LLC purchased a new position in shares of Air Lease Corporation (NYSE:AL) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 48,867 shares of the transportation company’s stock, valued at approximately $3,110,000.

A number of other large investors have also recently modified their holdings of the business. Eastern Bank raised its holdings in shares of Air Lease by 33.2% during the 3rd quarter. Eastern Bank now owns 799 shares of the transportation company’s stock worth $51,000 after buying an additional 199 shares in the last quarter. Archer Investment Corp grew its position in Air Lease by 6.6% in the second quarter. Archer Investment Corp now owns 3,250 shares of the transportation company’s stock valued at $190,000 after acquiring an additional 200 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Air Lease by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after acquiring an additional 234 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Air Lease by 0.7% in the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock worth $2,398,000 after acquiring an additional 273 shares during the last quarter. Finally, Ellevest Inc. lifted its holdings in shares of Air Lease by 4.2% in the second quarter. Ellevest Inc. now owns 7,064 shares of the transportation company’s stock worth $413,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 1,000 shares of Air Lease stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the transaction, the executive vice president directly owned 137,206 shares of the company’s stock, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the sale, the executive vice president directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. This represents a 29.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 760,593 shares of company stock valued at $48,668,588. 6.64% of the stock is currently owned by insiders.

Air Lease Price Performance

Shares of NYSE:AL opened at $64.32 on Friday. The firm has a market cap of $7.19 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.40. The firm’s fifty day moving average is $64.06 and its 200-day moving average is $62.00.

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

Air Lease Announces Dividend

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

Wall Street Analyst Weigh In

AL has been the subject of a number of research analyst reports. Barclays reiterated an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.17.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.