Fly Leasing Ltd (NYSE:FLY) saw unusually-strong trading volume on Monday . Approximately 933,185 shares changed hands during mid-day trading, an increase of 527% from the previous session’s volume of 148,827 shares.The stock last traded at $13.39 and had previously closed at $12.79.
Several research analysts recently weighed in on FLY shares. Zacks Investment Research raised Fly Leasing from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday. ValuEngine raised Fly Leasing from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Citigroup started coverage on Fly Leasing in a research report on Friday, December 8th. They issued a “sell” rating and a $13.50 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Fly Leasing from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.70.
The company has a debt-to-equity ratio of 4.87, a quick ratio of 1.18 and a current ratio of 1.42. The firm has a market cap of $384.26, a PE ratio of 193.60, a P/E/G ratio of 0.66 and a beta of 1.10.
Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Fly Leasing in the third quarter valued at about $102,000. Virtu Financial LLC raised its position in Fly Leasing by 35.0% in the fourth quarter. Virtu Financial LLC now owns 17,173 shares of the transportation company’s stock valued at $222,000 after purchasing an additional 4,451 shares during the period. Jane Street Group LLC purchased a new position in Fly Leasing in the fourth quarter valued at about $252,000. Parametric Portfolio Associates LLC raised its position in Fly Leasing by 8.2% in the second quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock valued at $253,000 after purchasing an additional 1,424 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Fly Leasing by 27.1% in the third quarter. Allianz Asset Management GmbH now owns 22,481 shares of the transportation company’s stock valued at $315,000 after purchasing an additional 4,798 shares during the period. 45.36% of the stock is currently owned by institutional investors.
About Fly Leasing
Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.
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