Short Interest in Air Lease Corporation (NYSE:AL) Rises By 39.0%

Air Lease Corporation (NYSE:AL) was the recipient of a large growth in short interest in February. As of February 13th, there was short interest totaling 3,167,761 shares, a growth of 39.0% from the January 29th total of 2,279,286 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,803,003 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 1,803,003 shares, the days-to-cover ratio is presently 1.8 days. Approximately 3.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays restated an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Air Lease presently has a consensus rating of “Hold” and a consensus target price of $59.60.

Air Lease Stock Performance

Shares of Air Lease stock opened at $64.87 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 2.33. The stock’s fifty day moving average is $64.47 and its two-hundred day moving average is $63.59. Air Lease has a 52 week low of $38.25 and a 52 week high of $64.96. The company has a market capitalization of $7.27 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million during the quarter, compared to analyst estimates of $782.67 million. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. As a group, analysts expect that Air Lease will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio is currently 9.45%.

Insider Activity at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 64,000 shares of Air Lease stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.02, for a total value of $4,097,280.00. Following the completion of the transaction, the director owned 74,000 shares in the company, valued at approximately $4,737,480. This trade represents a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John L. Plueger sold 155,821 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the sale, the chief executive officer directly owned 725,941 shares in the company, valued at $46,482,002.23. The trade was a 17.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 595,958 shares of company stock valued at $38,158,193. Insiders own 6.80% of the company’s stock.

Institutional Trading of Air Lease

A number of large investors have recently modified their holdings of AL. Mather Group LLC. bought a new position in Air Lease in the third quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 447 shares in the last quarter. First Horizon Corp bought a new stake in shares of Air Lease in the third quarter valued at about $31,000. Los Angeles Capital Management LLC bought a new position in Air Lease during the 4th quarter worth about $32,000. Finally, Nisa Investment Advisors LLC increased its position in Air Lease by 129.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Company 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.