Raffles Associates LP Buys Shares of 460,000 AerSale Corporation $ASLE

Raffles Associates LP bought a new stake in shares of AerSale Corporation (NASDAQ:ASLE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 460,000 shares of the company’s stock, valued at approximately $2,907,000. AerSale comprises 2.4% of Raffles Associates LP’s investment portfolio, making the stock its 14th largest position. Raffles Associates LP owned approximately 0.96% of AerSale as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC grew its stake in shares of AerSale by 100.7% in the 4th quarter. CWM LLC now owns 6,393 shares of the company’s stock worth $45,000 after buying an additional 3,208 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock valued at $55,000 after buying an additional 2,477 shares during the last quarter. BNP Paribas Financial Markets raised its stake in AerSale by 45.6% during the third quarter. BNP Paribas Financial Markets now owns 9,813 shares of the company’s stock valued at $80,000 after buying an additional 3,071 shares during the last quarter. KLCM Advisors Inc. bought a new stake in AerSale in the fourth quarter worth $71,000. Finally, The Manufacturers Life Insurance Company bought a new stake in AerSale in the second quarter worth $65,000. 69.48% of the stock is owned by institutional investors.

AerSale Stock Performance

ASLE stock opened at $5.65 on Friday. The stock’s 50 day simple moving average is $6.11 and its 200 day simple moving average is $6.48. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. AerSale Corporation has a 12-month low of $5.52 and a 12-month high of $8.93. The stock has a market capitalization of $269.67 million, a PE ratio of -70.62 and a beta of 0.28.

AerSale (NASDAQ:ASLE) last posted its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%.The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. As a group, research analysts forecast that AerSale Corporation will post 0.03 earnings per share for the current fiscal year.

Insider Activity at AerSale

In other AerSale news, insider Frederick Craig Wright sold 4,182 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $26,513.88. Following the completion of the transaction, the insider owned 213,531 shares of the company’s stock, valued at approximately $1,353,786.54. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the transaction, the insider owned 183,377 shares in the company, valued at $1,162,610.18. This represents a 3.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,316 shares of company stock valued at $135,160 over the last ninety days. Insiders own 20.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ASLE. Zacks Research raised AerSale to a “hold” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. B. Riley Financial initiated coverage on shares of AerSale in a research note on Monday, June 29th. They issued a “neutral” rating and a $7.50 price target on the stock. Wall Street Zen downgraded shares of AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada reduced their price objective on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday, August 10th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $6.83.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.