Sequoia Financial Advisors LLC Takes Position in Air Lease Co. (NYSE:AL)

Sequoia Financial Advisors LLC purchased a new position in shares of Air Lease Co. (NYSE:ALFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 59,198 shares of the transportation company’s stock, valued at approximately $2,483,000. Sequoia Financial Advisors LLC owned 0.05% of Air Lease at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC purchased a new stake in Air Lease in the first quarter worth $28,000. Neo Ivy Capital Management purchased a new stake in Air Lease in the second quarter worth $31,000. CWM LLC increased its position in Air Lease by 296.1% in the third quarter. CWM LLC now owns 911 shares of the transportation company’s stock worth $36,000 after buying an additional 681 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Air Lease in the third quarter worth $48,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Air Lease by 421.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,409 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 1,139 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AL has been the subject of several recent research reports. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. BMO Capital Markets boosted their target price on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays boosted their target price on Air Lease from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.50.

View Our Latest Stock Analysis on Air Lease

Air Lease Trading Up 0.8 %

Shares of AL stock opened at $49.19 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68. The business has a 50-day moving average price of $44.99 and a two-hundred day moving average price of $40.94. Air Lease Co. has a 12-month low of $33.33 and a 12-month high of $51.77. The firm has a market cap of $5.48 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.65.

Air Lease (NYSE:ALGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.79. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The firm had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. Equities analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a $0.21 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. Air Lease’s payout ratio is currently 16.31%.

Insider Buying and Selling

In related news, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at approximately $4,461,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at approximately $4,461,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the transaction, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock worth $3,705,152 in the last 90 days. Insiders own 6.64% of the company’s stock.

About Air Lease

(Free Report)

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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