Picton Mahoney Asset Management Has $400,000 Position in Air Lease Co. (NYSE:AL)

Picton Mahoney Asset Management reduced its position in shares of Air Lease Co. (NYSE:AL) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,795 shares of the transportation company’s stock after selling 305 shares during the period. Picton Mahoney Asset Management’s holdings in Air Lease were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AL. Mather Group LLC. acquired a new position in Air Lease in the 1st quarter valued at $31,000. Hexagon Capital Partners LLC raised its holdings in Air Lease by 1,341.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares in the last quarter. Neo Ivy Capital Management raised its holdings in Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 330 shares in the last quarter. Principal Securities Inc. acquired a new position in Air Lease in the 4th quarter valued at $77,000. Finally, SRS Capital Advisors Inc. raised its holdings in Air Lease by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,452 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 683 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Barclays lifted their price target on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen decreased their price target on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Air Lease Price Performance

Shares of AL traded down $0.47 during midday trading on Friday, hitting $47.55. The company’s stock had a trading volume of 833,900 shares, compared to its average volume of 1,109,235. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.59. Air Lease Co. has a one year low of $33.33 and a one year high of $52.31. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.69. The company’s fifty day simple moving average is $47.53 and its two-hundred day simple moving average is $45.89.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, equities analysts expect that Air Lease Co. will post 6.68 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Tuesday, June 4th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. Air Lease’s dividend payout ratio is currently 16.94%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.