Savant Capital LLC Invests $1.05 Million in Air Lease Corporation $AL

Savant Capital LLC acquired a new stake in shares of Air Lease Corporation (NYSE:AL) in the third quarter, Holdings Channel reports. The firm acquired 16,490 shares of the transportation company’s stock, valued at approximately $1,050,000.

Several other large investors also recently added to or reduced their stakes in AL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Air Lease by 21.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company’s stock worth $2,443,000 after acquiring an additional 9,056 shares during the period. Millennium Management LLC boosted its holdings in shares of Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company’s stock valued at $9,855,000 after purchasing an additional 192,508 shares during the period. Jones Financial Companies Lllp grew its stake in Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company’s stock worth $429,000 after purchasing an additional 7,387 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Air Lease by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company’s stock worth $15,784,000 after purchasing an additional 15,629 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Air Lease by 16.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company’s stock valued at $14,410,000 after purchasing an additional 41,912 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Kishore Korde sold 30,160 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were 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 directly owned 79,263 shares in the company, valued at approximately $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John L. Plueger sold 155,821 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the sale, the chief executive officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 692,185 shares of company stock worth $44,301,155 over the last quarter. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Barclays reissued an “equal weight” rating and set a $65.00 target price (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.17.

Air Lease Trading Up 0.1%

Shares of NYSE:AL opened at $64.66 on Wednesday. The company has a market capitalization of $7.23 billion, a PE ratio of 7.49, a P/E/G ratio of 0.56 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.71. The business’s fifty day simple moving average is $64.28 and its 200-day simple moving average is $62.78.

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.