Parallel Advisors LLC lifted its stake in Fly Leasing Ltd (NYSE:FLY) by 211.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,813 shares of the transportation company’s stock after purchasing an additional 1,230 shares during the period. Parallel Advisors LLC’s holdings in Fly Leasing were worth $32,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its holdings in shares of Fly Leasing by 0.6% during the first quarter. Donald Smith & CO. Inc. now owns 2,687,801 shares of the transportation company’s stock valued at $37,199,000 after buying an additional 17,229 shares during the last quarter. Renaissance Group LLC lifted its stake in Fly Leasing by 2.5% during the first quarter. Renaissance Group LLC now owns 58,100 shares of the transportation company’s stock worth $804,000 after purchasing an additional 1,420 shares during the period. Monarch Partners Asset Management LLC lifted its stake in Fly Leasing by 95.4% during the first quarter. Monarch Partners Asset Management LLC now owns 166,985 shares of the transportation company’s stock worth $2,311,000 after purchasing an additional 81,545 shares during the period. SFE Investment Counsel lifted its stake in Fly Leasing by 2.0% during the first quarter. SFE Investment Counsel now owns 106,435 shares of the transportation company’s stock worth $1,473,000 after purchasing an additional 2,050 shares during the period. Finally, Advisors Preferred LLC bought a new position in Fly Leasing during the first quarter worth about $117,000. 42.06% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:FLY traded up $0.06 during trading on Wednesday, reaching $20.01. The stock had a trading volume of 602 shares, compared to its average volume of 184,878. Fly Leasing Ltd has a 52 week low of $10.42 and a 52 week high of $21.24. The business’s 50-day moving average price is $17.46 and its 200 day moving average price is $15.31. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $573.96 million, a PE ratio of 6.52 and a beta of 0.92.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Fly Leasing from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Compass Point set a $23.00 target price on shares of Fly Leasing and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, ValuEngine upgraded shares of Fly Leasing from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Fly Leasing presently has a consensus rating of “Buy” and an average target price of $20.00.
About Fly Leasing
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.
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