Verition Fund Management LLC purchased a new position in shares of AerCap Holdings (NYSE:AER) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,913 shares of the financial services provider’s stock, valued at approximately $364,000.
A number of other hedge funds have also made changes to their positions in AER. Arrowstreet Capital Limited Partnership boosted its position in AerCap by 135.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,242,647 shares of the financial services provider’s stock worth $117,986,000 after acquiring an additional 1,288,455 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in AerCap during the 4th quarter worth $31,769,000. Neuberger Berman Group LLC boosted its position in AerCap by 7.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,320,387 shares of the financial services provider’s stock worth $169,705,000 after acquiring an additional 230,716 shares during the period. Asset Management One Co. Ltd. boosted its position in AerCap by 5,343.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 228,423 shares of the financial services provider’s stock worth $11,674,000 after acquiring an additional 224,227 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in AerCap by 9.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,237,852 shares of the financial services provider’s stock worth $117,733,000 after acquiring an additional 199,480 shares during the period. Institutional investors own 84.44% of the company’s stock.
Shares of AerCap stock opened at $49.55 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $7,829.69, a price-to-earnings ratio of 7.82, a PEG ratio of 0.66 and a beta of 1.82. AerCap Holdings has a twelve month low of $42.35 and a twelve month high of $55.67.
AerCap announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have issued reports on AER shares. Citigroup started coverage on AerCap in a research report on Friday, December 8th. They set a “neutral” rating and a $57.00 price target for the company. Wells Fargo set a $62.00 price target on AerCap and gave the stock a “buy” rating in a research report on Friday, December 15th. Macquarie started coverage on AerCap in a research report on Tuesday, March 13th. They set an “outperform” rating for the company. Morgan Stanley boosted their price target on AerCap from $48.00 to $49.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Finally, Zacks Investment Research upgraded AerCap from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $58.73.
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AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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