Air Lease Corporation (NYSE:AL) Sees Significant Growth in Short Interest

Air Lease Corporation (NYSE:AL) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,323,331 shares, an increase of 23.1% from the December 31st total of 1,886,809 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 1,480,845 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 1,480,845 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AL shares. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Zacks Research upgraded 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 set a $65.00 price objective (down previously 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 stock. Based on data from MarketBeat, Air Lease currently has an average rating of “Hold” and a consensus target price of $59.17.

Air Lease Price Performance

Shares of AL stock traded up $0.05 on Tuesday, reaching $64.64. The company had a trading volume of 615,747 shares, compared to its average volume of 1,335,768. The stock has a market capitalization of $7.22 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42. The business’s 50-day moving average is $64.20 and its 200 day moving average is $62.49. Air Lease has a one year low of $38.25 and a one year high of $64.70.

Air Lease (NYSE:AL) last released 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. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities research analysts forecast that Air Lease will post 5.16 EPS for the current fiscal year.

Insider Buying and Selling at Air Lease

In other Air Lease news, CFO Gregory B. Willis sold 23,481 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the transaction, the chief financial officer owned 56,408 shares in the company, valued at $3,600,522.64. This represents a 29.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven F. Udvar-Hazy sold 64,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the transaction, the director directly owned 74,000 shares in the company, valued at $4,737,480. This represents a 46.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 760,593 shares of company stock valued at $48,668,588. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS boosted its holdings in shares of Air Lease by 7.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock valued at $1,285,000 after acquiring an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Air Lease by 7.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after purchasing an additional 265,423 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Air Lease by 198.0% during the second quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock valued at $1,092,000 after purchasing an additional 12,402 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Air Lease by 123.6% during the second quarter. QRG Capital Management Inc. now owns 16,718 shares of the transportation company’s stock worth $978,000 after purchasing an additional 9,241 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in shares of Air Lease during the second quarter worth about $7,473,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company 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.