Prospera Financial Services Inc acquired a new stake in Air Lease Co. (NYSE:AL – Get Rating) in the first quarter, reports Holdings Channel.com. The institutional investor purchased 3,474 shares of the transportation company, valued at approximately $155,000.
A number of other hedge funds have also recently bought and sold shares in the company. invesco ltd increased its stake in Air Lease by 119.0% in the fourth quarter. invesco ltd now owns 1,539,262 shares of the transportation company valued at $68,081,000 after purchasing an additional 836,467 shares during the period. HST Ventures LLC purchased a new position in Air Lease valued at approximately $17,233,000 during the fourth quarter. Reinhart Partners Inc. increased its stake in Air Lease by 21.4% in the first quarter. Reinhart Partners Inc. now owns 1,091,324 shares of the transportation company’s stock valued at $48,727,000 after purchasing an additional 192,332 shares during the period. American Century Companies Inc. increased its stake in Air Lease by 59.9% in the fourth quarter. American Century Companies Inc. now owns 446,920 shares of the transportation company’s stock valued at $19,767,000 after purchasing an additional 167,437 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Air Lease by 21.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 855,054 shares of the transportation company’s stock valued at $37,819,000 after purchasing an additional 150,504 shares during the period. 86.00% of the shares are currently held by institutional investors.
Air Lease Share Performance
NYSE AL opened at $37.91 on Friday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -28.08 and a beta of 1.83. The company has a 50-day moving average of $34.47 and a 200-day moving average of $38.60. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt to equity ratio of 2.80. Air Lease Co. has a 1 year low of $29.75 and a 1 year high of $50.99.
Air Lease (NYSE:AL – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The transportation company reported earnings per share of $0.95 for the quarter, missing the consensus estimate of $1.05 ($0.10). The company had revenue of $557.70 million for the quarter, compared to analyst estimates of $542.23 million. Air Lease had a positive return on equity of 7.52% and a negative net margin of 6.17%. The company’s quarterly revenue rose 13.4% year over year. In the same period last year, the company posted $0.75 per share. On average, equity analysts are forecasting that Air Lease Co. will report earnings per share of -1.05 for the current fiscal year.
Wall Street analyst ponders
Separately, Barclays lowered its price target on Air Lease shares to $55.00 from $61.00 and gave the company an overweight rating in a research note on Wednesday, July 13. One equities research analyst has rated the stock with a hold and four have given a buy rating to the company. According to MarketBeat.com, Air Lease has a consensus rating of “Moderate Buy” and an average target price of $52.67.
Insider transactions at Air Lease
In related news, Chairman Steven F. Udvar-Hazy purchased 3,000 shares of the stock in a transaction that took place on Wednesday, May 11th. The stock was purchased at an average price of $35.60 per share for a total value of $106,800.00. Upon completion of the acquisition, the CEO now directly owns 1,204,558 shares of the Company, valued at approximately $42,882,264.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Company insiders own 6.57% of the company’s shares.
Air Lease profile
Air Lease Corporation, an aircraft leasing company, is engaged in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its operating lease portfolio to third parties, including other lessors, financial services firms, airlines and other investors.
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