Air Lease Corporation $AL Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC decreased its holdings in shares of Air Lease Corporation (NYSE:AL) by 17.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 605,618 shares of the transportation company’s stock after selling 130,819 shares during the period. Air Lease makes up approximately 7.7% of Gagnon Securities LLC’s portfolio, making the stock its biggest position. Gagnon Securities LLC’s holdings in Air Lease were worth $38,548,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AL. Allspring Global Investments Holdings LLC grew its holdings in shares of Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after purchasing an additional 265,423 shares during the last quarter. State Street Corp grew its stake in Air Lease by 0.8% during the 2nd quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock worth $203,084,000 after buying an additional 28,227 shares during the last quarter. Bank of America Corp DE grew its stake in Air Lease by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 1,235,262 shares of the transportation company’s stock worth $72,250,000 after buying an additional 48,413 shares during the last quarter. Norges Bank acquired a new stake in Air Lease in the second quarter worth $71,910,000. Finally, Boston Partners lifted its stake in Air Lease by 104.4% in the second quarter. Boston Partners now owns 648,679 shares of the transportation company’s stock valued at $37,938,000 after buying an additional 331,291 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the transaction, the executive vice president directly owned 50,091 shares in the company, valued at approximately $3,210,833.10. This trade represents a 29.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.12, for a total value of $1,218,280.00. Following the completion of the sale, the director owned 1,391,366 shares of the company’s stock, valued at approximately $89,214,387.92. This trade represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 760,593 shares of company stock valued at $48,668,588 over the last quarter. Corporate insiders own 6.64% of the company’s stock.

Air Lease Price Performance

Shares of NYSE AL opened at $64.48 on Friday. The stock has a market cap of $7.21 billion, a P/E ratio of 7.47, a P/E/G ratio of 0.56 and a beta of 1.15. The firm’s 50-day simple moving average is $64.17 and its 200 day simple moving average is $62.34. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week high of $64.53. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. The firm had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. Air Lease’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. Equities analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Analyst Upgrades and Downgrades

AL has been the subject of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Barclays restated an “equal weight” rating and issued a $65.00 price target (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.17.

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.