Insider Selling: Air Lease (NYSE:AL) Director Sells 2,800 Shares of Stock

Air Lease Corporation (NYSE:AL) Director Steven Udvar-Hazy sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.06, for a total transaction of $179,368.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Air Lease Stock Performance

Shares of Air Lease stock remained flat at $63.96 during midday trading on Thursday. 2,018,915 shares of the stock were exchanged, compared to its average volume of 2,128,448. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The firm has a 50 day moving average of $63.77 and a 200 day moving average of $60.75. The stock has a market capitalization of $7.15 billion, a P/E ratio of 7.41 and a beta of 1.19.

Air Lease (NYSE:AL) last posted its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm had revenue of $725.39 million for the quarter, compared to the consensus estimate of $744.59 million. During the same period in the prior year, the business posted $0.82 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s payout ratio is presently 10.20%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AL. Cetera Investment Advisers boosted its stake in Air Lease by 31.3% during the first quarter. Cetera Investment Advisers now owns 19,831 shares of the transportation company’s stock worth $958,000 after buying an additional 4,725 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Air Lease by 11.3% during the 1st quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock worth $2,186,000 after acquiring an additional 4,601 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Air Lease by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,146,621 shares of the transportation company’s stock worth $55,393,000 after acquiring an additional 5,027 shares during the period. Deutsche Bank AG boosted its position in shares of Air Lease by 7.8% during the 1st quarter. Deutsche Bank AG now owns 6,908 shares of the transportation company’s stock valued at $334,000 after acquiring an additional 500 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Air Lease by 206.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,181 shares of the transportation company’s stock valued at $3,487,000 after acquiring an additional 48,600 shares during the period. 94.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AL shares. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 3rd. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Hold” and an average price target of $59.50.

About Air Lease

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.