Air Lease (NYSE:AL) Sets New 52-Week High – Here’s What Happened

Air Lease Corporation (NYSE:AL) hit a new 52-week high on Wednesday . The stock traded as high as $64.71 and last traded at $64.7350, with a volume of 577202 shares changing hands. The stock had previously closed at $64.67.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed 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 note on Monday, January 5th. Finally, Barclays reaffirmed an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.17.

Air Lease Stock Performance

The business has a 50 day moving average of $64.28 and a 200-day moving average of $62.78. The company has a market capitalization of $7.23 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43.

Insider Activity

In related news, Director Steven F. Udvar-Hazy sold 19,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.12, for a total value of $1,218,280.00. Following the transaction, the director owned 1,391,366 shares of the company’s stock, valued at $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the sale, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. The trade was a 29.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 692,185 shares of company stock worth $44,301,155 over the last ninety days. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Air Lease

A number of large investors have recently bought and sold shares of AL. Mather Group LLC. purchased a new stake in shares of Air Lease during the third quarter valued at approximately $29,000. True Wealth Design LLC raised its holdings in Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after buying an additional 447 shares during the last quarter. First Horizon Corp bought a new stake in Air Lease during the 3rd quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new stake in Air Lease during the 4th quarter valued at $32,000. Finally, Nisa Investment Advisors LLC grew its holdings in Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after acquiring an additional 298 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

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.