Air Lease Corporation (AL) Shares Sold by CI Investments Inc.
CI Investments Inc. reduced its stake in Air Lease Corporation (NYSE:AL) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 851,150 shares of the transportation company’s stock after selling 132,200 shares during the period. CI Investments Inc. owned approximately 0.82% of Air Lease Corporation worth $36,276,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of AL. SLS Management LLC purchased a new stake in Air Lease Corporation during the second quarter worth about $1,535,000. Nationwide Fund Advisors increased its stake in shares of Air Lease Corporation by 45.4% during the second quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock worth $1,258,000 after buying an additional 10,517 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Air Lease Corporation during the second quarter worth approximately $243,000. NGAM Advisors L.P. increased its stake in shares of Air Lease Corporation by 2.4% during the second quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock worth $699,000 after buying an additional 447 shares during the period. Finally, State Street Corp increased its stake in shares of Air Lease Corporation by 7.1% during the first quarter. State Street Corp now owns 1,329,489 shares of the transportation company’s stock worth $51,521,000 after buying an additional 88,278 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.
A number of brokerages recently issued reports on AL. Cowen and Company upped their price target on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Bank of America Corporation downgraded Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday, August 9th. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada upped their price target on Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $48.78.
Shares of Air Lease Corporation (AL) traded down $1.34 during midday trading on Tuesday, hitting $41.89. The company had a trading volume of 895,600 shares, compared to its average volume of 754,554. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53. Air Lease Corporation has a 52-week low of $33.75 and a 52-week high of $45.15. The firm has a market capitalization of $4,463.07, a P/E ratio of 12.39, a PEG ratio of 1.31 and a beta of 1.83.
Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Air Lease Corporation had a return on equity of 10.87% and a net margin of 25.67%. The firm had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. During the same period last year, the company earned $1.43 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. research analysts expect that Air Lease Corporation will post 3.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 13th. This is an increase from Air Lease Corporation’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.95%. Air Lease Corporation’s dividend payout ratio (DPR) is currently 8.60%.
In other Air Lease Corporation news, Director Jie Chen sold 2,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.82, for a total value of $87,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex A. Khatibi sold 11,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now owns 142,786 shares of the company’s stock, valued at approximately $5,711,440. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,562 shares of company stock valued at $1,000,003. Corporate insiders own 9.76% of the company’s stock.
Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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