Krilogy Financial LLC Takes Position in Air Lease Corporation $AL

Krilogy Financial LLC purchased a new position in shares of Air Lease Corporation (NYSE:AL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,853 shares of the transportation company’s stock, valued at approximately $628,000.

Several other hedge funds also recently bought and sold shares of the business. First Citizens Bank & Trust Co. lifted its position in Air Lease by 198.0% during the second quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock valued at $1,092,000 after purchasing an additional 12,402 shares during the period. Gabelli Funds LLC purchased a new position in shares of Air Lease during the 2nd quarter valued at about $7,473,000. High Ground Investment Management LLP purchased a new position in shares of Air Lease during the 3rd quarter valued at about $34,957,000. Corton Capital Inc. acquired a new position in shares of Air Lease in the 2nd quarter valued at about $402,000. Finally, Voya Investment Management LLC boosted its stake in shares of Air Lease by 104.3% in the third quarter. Voya Investment Management LLC now owns 35,641 shares of the transportation company’s stock worth $2,269,000 after buying an additional 18,195 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Buying and Selling at Air Lease

In other news, EVP Kishore Korde sold 30,160 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00. Following the transaction, the executive vice president owned 79,263 shares in the company, valued at $5,064,905.70. This trade represents a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John L. Plueger sold 155,821 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 692,185 shares of company stock valued at $44,301,155 over the last quarter. 6.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AL has been the subject of several recent research reports. Barclays reiterated an “equal weight” rating and set a $65.00 price target (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Air Lease currently has a consensus rating of “Hold” and an average target price of $59.17.

Air Lease Stock Up 0.1%

Shares of AL opened at $64.74 on Friday. The firm has a market cap of $7.24 billion, a P/E ratio of 6.95, a PEG ratio of 0.56 and a beta of 1.13. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.76. The stock’s 50 day moving average is $64.32 and its two-hundred day moving average is $62.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a return on equity of 8.63% and a net margin of 35.72%.The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s payout ratio is 9.45%.

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.