Wall Street Zen Downgrades AerSale (NASDAQ:ASLE) to Sell

AerSale (NASDAQ:ASLE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other analysts have also recently issued reports on ASLE. Zacks Research upgraded shares of AerSale to a “hold” rating in a research note on Wednesday, July 1st. B. Riley Financial assumed coverage on shares of AerSale in a research note on Monday, June 29th. They issued a “neutral” rating and a $7.50 price target on the stock. Royal Bank Of Canada lowered their price target on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AerSale in a report on Wednesday. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $6.83.

AerSale Price Performance

ASLE opened at $5.87 on Friday. AerSale has a 1-year low of $5.56 and a 1-year high of $9.12. The stock’s fifty day simple moving average is $6.23 and its 200 day simple moving average is $6.59. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The stock has a market cap of $280.18 million, a PE ratio of -73.38 and a beta of 0.28.

AerSale (NASDAQ:ASLE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $81.24 million. As a group, research analysts expect that AerSale will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Frederick Craig Wright sold 4,182 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $26,513.88. Following the completion of the sale, the insider owned 213,531 shares of the company’s stock, valued at approximately $1,353,786.54. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the completion of the transaction, the insider owned 183,377 shares in the company, valued at $1,162,610.18. This trade represents a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,316 shares of company stock worth $135,160 in the last 90 days. Company insiders own 20.10% of the company’s stock.

Institutional Trading of AerSale

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi acquired a new position in shares of AerSale during the 1st quarter worth approximately $161,000. Jane Street Group LLC increased its holdings in shares of AerSale by 1,250.8% during the first quarter. Jane Street Group LLC now owns 174,543 shares of the company’s stock worth $1,307,000 after purchasing an additional 161,622 shares during the period. American Century Companies Inc. increased its holdings in shares of AerSale by 165.1% during the second quarter. American Century Companies Inc. now owns 234,335 shares of the company’s stock worth $1,408,000 after purchasing an additional 145,931 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of AerSale by 1.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 275,022 shares of the company’s stock valued at $1,653,000 after buying an additional 4,416 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of AerSale by 4.1% in the second quarter. Invesco Ltd. now owns 92,867 shares of the company’s stock valued at $558,000 after buying an additional 3,652 shares in the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.