Parallel Advisors LLC Increases Stock Holdings in Air Lease Corp (NYSE:AL)

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Parallel Advisors LLC increased its holdings in Air Lease Corp (NYSE:AL) by 1,196.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 765 shares of the transportation company’s stock after purchasing an additional 706 shares during the period. Parallel Advisors LLC’s holdings in Air Lease were worth $32,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Permanens Capital L.P. purchased a new stake in Air Lease during the first quarter valued at about $26,000. Osborn Williams & Donohoe LLC purchased a new stake in Air Lease during the first quarter valued at about $38,000. SeaBridge Investment Advisors LLC grew its position in Air Lease by 50.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 1,500 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 500 shares during the period. Private Capital Group LLC grew its position in Air Lease by 204.5% during the first quarter. Private Capital Group LLC now owns 2,183 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 1,466 shares during the period. Finally, ETF Managers Group LLC grew its position in Air Lease by 10.3% during the first quarter. ETF Managers Group LLC now owns 3,376 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 316 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.

In other Air Lease news, Chairman Steven F. Udvar-Hazy sold 5,763 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.63, for a total transaction of $222,624.69. Following the sale, the chairman now owns 1,308,378 shares in the company, valued at $50,542,642.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven F. Udvar-Hazy sold 507,789 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.58, for a total value of $19,590,499.62. Following the sale, the insider now owns 1,334,842 shares in the company, valued at approximately $51,498,204.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 773,543 shares of company stock worth $30,015,271. Insiders own 8.76% of the company’s stock.

A number of equities research analysts have issued reports on the company. Cowen reissued an “outperform” rating and set a $49.00 price target (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. ValuEngine downgraded Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Air Lease has a consensus rating of “Hold” and a consensus price target of $47.80.

Shares of NYSE AL traded up $0.24 on Wednesday, hitting $39.00. The company had a trading volume of 3,328 shares, compared to its average volume of 820,689. Air Lease Corp has a 12-month low of $28.13 and a 12-month high of $47.34. The business has a 50 day moving average of $40.27 and a two-hundred day moving average of $38.25. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.43. The firm has a market capitalization of $4.35 billion, a P/E ratio of 8.48, a PEG ratio of 0.72 and a beta of 1.95.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.17). Air Lease had a return on equity of 11.16% and a net margin of 30.00%. The business had revenue of $471.40 million during the quarter, compared to analyst estimates of $483.40 million. During the same quarter last year, the firm posted $1.44 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Air Lease Corp will post 5.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Sunday, September 15th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 12th. Air Lease’s dividend payout ratio (DPR) is 11.30%.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

Read More: What is Cost of Goods Sold (COGS)?

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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