High Ground Investment Management LLP Takes $34.96 Million Position in Air Lease Corporation $AL

High Ground Investment Management LLP acquired a new position in Air Lease Corporation (NYSE:AL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 549,201 shares of the transportation company’s stock, valued at approximately $34,957,000. Air Lease accounts for 5.8% of High Ground Investment Management LLP’s holdings, making the stock its 6th largest position. High Ground Investment Management LLP owned approximately 0.49% of Air Lease as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AL. Archer Investment Corp grew its position in Air Lease by 5.1% during the 3rd quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock worth $217,000 after acquiring an additional 165 shares during the last quarter. Sage Rhino Capital LLC boosted its stake in shares of Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock valued at $253,000 after purchasing an additional 181 shares during the period. Eastern Bank grew its holdings in shares of Air Lease by 33.2% in the third quarter. Eastern Bank now owns 799 shares of the transportation company’s stock worth $51,000 after purchasing an additional 199 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Air Lease by 75.0% in the third quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock worth $35,000 after purchasing an additional 234 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Air Lease by 0.7% in the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock worth $2,398,000 after buying an additional 273 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Air Lease Stock Performance

NYSE:AL opened at $64.62 on Thursday. 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 firm’s fifty day simple moving average is $64.23 and its 200 day simple moving average is $62.55. The stock 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 1.13. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.71.

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. The firm 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. As a group, research analysts predict that Air Lease Corporation will post 5.16 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AL shares. Barclays reissued an “equal weight” rating and set a $65.00 price target (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Zacks Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.17.

Insider Buying and Selling

In other news, EVP Kishore Korde sold 30,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the transaction, the executive vice president owned 79,263 shares of the company’s stock, valued at approximately $5,064,905.70. This represents a 27.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. The trade was a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 737,112 shares of company stock valued at $47,169,796 over the last three months. Corporate insiders own 6.64% of the company’s stock.

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.