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

Raffles Associates LP purchased a new stake in shares of AerSale Corporation (NASDAQ:ASLE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 460,000 shares of the company’s stock, valued at approximately $2,907,000. AerSale accounts for about 2.6% of Raffles Associates LP’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in AerSale by 100.7% during the fourth quarter. CWM LLC now owns 6,393 shares of the company’s stock valued at $45,000 after acquiring an additional 3,208 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock worth $55,000 after purchasing an additional 2,477 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of AerSale during the 2nd quarter valued at about $65,000. KLCM Advisors Inc. bought a new stake in shares of AerSale during the 4th quarter valued at about $71,000. Finally, HRT Financial LP purchased a new stake in shares of AerSale during the 4th quarter valued at about $75,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AerSale

In other news, insider Martin Garmendia sold 6,094 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 $38,635.96. Following the transaction, the insider directly owned 183,377 shares in the company, valued at $1,162,610.18. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Gary Edmund Jones sold 7,491 shares of the company’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 $47,492.94. Following the completion of the transaction, the insider directly owned 162,405 shares of the company’s stock, valued at approximately $1,029,647.70. This trade represents a 4.41% 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 a total of 21,316 shares of company stock valued at $135,160 over the last ninety days. 20.10% of the stock is currently owned by company insiders.

AerSale Price Performance

NASDAQ ASLE opened at $5.61 on Wednesday. AerSale Corporation has a 52 week low of $5.52 and a 52 week high of $9.08. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $267.77 million, a P/E ratio of -70.12 and a beta of 0.28. The stock’s 50-day moving average price is $6.14 and its 200-day moving average price is $6.50.

AerSale (NASDAQ:ASLE) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. The firm had revenue of $70.93 million for the quarter, compared to the consensus estimate of $81.24 million. On average, equities research analysts predict that AerSale Corporation will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASLE shares. Royal Bank Of Canada lowered their price objective on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Monday, August 10th. Zacks Research upgraded shares of AerSale to a “hold” rating in a research report on Wednesday, July 1st. Wall Street Zen cut shares of AerSale from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. Finally, B. Riley Financial initiated coverage on shares of AerSale in a research note on Monday, June 29th. They set a “neutral” rating and a $7.50 price target on the stock. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.