Great Lakes Advisors LLC Has $3.18 Million Stake in Air Lease Corporation $AL

Great Lakes Advisors LLC reduced its stake in shares of Air Lease Corporation (NYSE:AL) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,956 shares of the transportation company’s stock after selling 21,097 shares during the quarter. Great Lakes Advisors LLC’s holdings in Air Lease were worth $3,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mather Group LLC. bought a new position in Air Lease during the 3rd quarter worth approximately $29,000. True Wealth Design LLC increased its stake 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 in the last quarter. First Horizon Corp acquired a new stake in Air Lease in the third quarter worth $31,000. Parkside Financial Bank & Trust boosted its position in shares of Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after buying an additional 298 shares during the period. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Performance

AL opened at $64.60 on Friday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.56 and a beta of 1.15. The business’s 50-day moving average price is $64.18 and its two-hundred day moving average price is $62.41. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $64.63. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The company had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same period in the prior year, the firm earned $0.82 earnings per share. Air Lease’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AL has been the topic of several research analyst reports. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Finally, Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.17.

Insider Buying and Selling at Air Lease

In related news, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. This trade represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory B. Willis sold 23,481 shares of Air Lease stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $63.83, for a total transaction of $1,498,792.23. Following the completion of the sale, the chief financial officer owned 56,408 shares in the company, valued at $3,600,522.64. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 760,593 shares of company stock valued at $48,668,588 over the last quarter. Insiders own 6.64% of the company’s stock.

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.