Great Lakes Advisors LLC Sells 21,097 Shares of Air Lease Corporation $AL

Great Lakes Advisors LLC trimmed its stake in Air Lease Corporation (NYSE:AL) by 29.7% in the third quarter, Holdings Channel reports. The firm owned 49,956 shares of the transportation company’s stock after selling 21,097 shares during the quarter. Great Lakes Advisors LLC’s holdings in Air Lease were worth $3,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Air Lease in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC raised its position in Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares in the last quarter. First Horizon Corp bought a new stake in Air Lease during the third quarter worth $31,000. Parkside Financial Bank & Trust lifted its stake in Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 407 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 298 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.1%

Shares of AL opened at $64.60 on Friday. The firm has a market cap of $7.22 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. 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 52 week low of $38.25 and a 52 week high of $64.63. The firm’s 50-day simple moving average is $64.18 and its 200 day simple moving average is $62.41.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The company had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.17.

Insider Activity at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 19,000 shares of Air Lease stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the completion of the sale, the director owned 1,391,366 shares of the company’s stock, valued at approximately $89,214,387.92. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the transaction, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. This trade represents a 29.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 760,593 shares of company stock worth $48,668,588 in the last ninety days. 6.64% of the stock is owned by company insiders.

Air Lease Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.