Moore Capital Management LP Grows Stock Holdings in Air Lease Corporation $AL

Moore Capital Management LP grew its position in Air Lease Corporation (NYSE:AL) by 128.0% during the third quarter, Holdings Channel reports. The institutional investor owned 743,280 shares of the transportation company’s stock after acquiring an additional 417,349 shares during the quarter. Moore Capital Management LP’s holdings in Air Lease were worth $47,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AL. AQR Capital Management LLC raised its stake in shares of Air Lease by 930.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after acquiring an additional 2,061,817 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Air Lease in the third quarter valued at approximately $100,534,000. Norges Bank purchased a new position in Air Lease in the second quarter worth $71,910,000. AQR Arbitrage LLC purchased a new position in Air Lease in the third quarter worth $64,190,000. Finally, High Ground Investment Management LLP acquired a new position in shares of Air Lease during the third quarter worth $34,957,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Air Lease Stock Up 0.1%

AL stock opened at $64.61 on Tuesday. The stock has a market capitalization of $7.24 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.96. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.33. The firm has a 50 day moving average of $64.57 and a 200 day moving average of $64.02.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (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 analyst estimates of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. Air Lease’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. Sell-side analysts forecast that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s payout ratio is 9.45%.

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.