Slotnik Capital LLC Takes $9.23 Million Position in Air Lease Corporation $AL

Slotnik Capital LLC bought a new position in Air Lease Corporation (NYSE:AL) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 145,000 shares of the transportation company’s stock, valued at approximately $9,229,000. Air Lease comprises approximately 2.9% of Slotnik Capital LLC’s portfolio, making the stock its 9th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC raised its position in 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 purchasing an additional 447 shares during the period. Mather Group LLC. acquired a new position in shares of Air Lease in the third quarter valued at approximately $29,000. First Horizon Corp acquired a new position in shares of Air Lease in the third quarter worth $31,000. Nisa Investment Advisors LLC increased its stake in shares of Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after buying an additional 298 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Air Lease by 75.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 234 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven F. Udvar-Hazy sold 48,632 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.18, for a total transaction of $3,121,201.76. Following the completion of the transaction, the director owned 14,050 shares of the company’s stock, valued at approximately $901,729. This represents a 77.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of the stock in a transaction that occurred 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 represents a 29.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 89,294 shares of company stock valued at $5,728,216. Insiders own 6.64% of the company’s stock.

Air Lease Stock Performance

NYSE AL opened at $64.53 on Friday. The business’s 50-day moving average price is $64.56 and its 200 day moving average price is $63.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.96. The company has a market capitalization of $7.23 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The company had revenue of $679.54 million during the quarter, compared to analysts’ expectations of $782.67 million. During the same quarter in the previous year, the business earned $0.83 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. On average, research analysts predict that Air Lease Corporation 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. Investors of record on Monday, March 2nd will be issued 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 payout ratio is presently 9.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays reiterated an “equal weight” rating and set a $65.00 price target (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.00.

About Air Lease

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.