Slotnik Capital LLC Takes $9.23 Million Position in Air Lease Corporation $AL

Slotnik Capital LLC acquired a new position in shares of Air Lease Corporation (NYSE:AL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 145,000 shares of the transportation company’s stock, valued at approximately $9,229,000. Air Lease accounts for about 2.9% of Slotnik Capital LLC’s holdings, making the stock its 9th biggest holding. Slotnik Capital LLC owned 0.13% of Air Lease as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AL. True Wealth Design LLC raised its stake in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 447 shares during the period. Mather Group LLC. bought a new position in shares of Air Lease during the third quarter valued at approximately $29,000. First Horizon Corp bought a new position in shares of Air Lease during the third quarter valued at approximately $31,000. Nisa Investment Advisors LLC raised its holdings in shares of Air Lease by 129.6% in the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after buying an additional 298 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in shares of Air Lease by 75.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock worth $35,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

AL stock opened at $64.53 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. The business has a 50-day moving average price of $64.56 and a 200 day moving average price of $63.95. The company has a market capitalization of $7.23 billion, a P/E ratio of 6.93, a PEG ratio of 0.53 and a beta of 1.11. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.96.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The business had revenue of $679.54 million for the quarter, compared to the consensus estimate of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. As a group, equities research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be paid a $0.22 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is 9.45%.

Analysts Set New Price Targets

Several equities analysts have commented on AL shares. Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Insider Transactions at Air Lease

In other news, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction that occurred on 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 directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. The trade was a 29.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven F. Udvar-Hazy sold 48,632 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.18, for a total value of $3,121,201.76. Following the completion of the transaction, the director directly owned 14,050 shares of the company’s stock, valued at $901,729. The trade was a 77.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 89,294 shares of company stock worth $5,728,216 over the last three months. 6.64% of the stock is currently owned by insiders.

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.