AerSale Corporation (NASDAQ:ASLE) Receives Average Rating of “Reduce” from Brokerages

Shares of AerSale Corporation (NASDAQ:ASLE) have been assigned an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.1667.

ASLE has been the topic of a number of research analyst reports. Weiss Ratings cut AerSale from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, May 15th. B. Riley Financial started coverage on AerSale in a report on Monday. They issued a “neutral” rating and a $7.50 price objective for the company.

AerSale Price Performance

Shares of AerSale stock traded down $0.13 on Monday, hitting $6.42. 71,205 shares of the company traded hands, compared to its average volume of 302,380. AerSale has a 12-month low of $5.56 and a 12-month high of $9.12. The company has a current ratio of 3.74, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a market cap of $303.16 million, a P/E ratio of 29.20 and a beta of 0.27. The firm’s 50-day simple moving average is $6.52 and its 200 day simple moving average is $6.86.

Insiders Place Their Bets

In other news, insider Martin Garmendia sold 6,094 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $38,635.96. Following the completion of the sale, the insider directly owned 183,377 shares in the company, valued at approximately $1,162,610.18. The trade was a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Edmund Jones sold 7,491 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $47,492.94. Following the transaction, the insider directly owned 162,405 shares in the company, valued at approximately $1,029,647.70. This represents a 4.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,239 shares of company stock valued at $134,655 over the last quarter. 20.10% of the stock is owned by corporate insiders.

Institutional Trading of AerSale

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its stake in shares of AerSale by 277.4% during the third quarter. Marshall Wace LLP now owns 1,509,517 shares of the company’s stock valued at $12,363,000 after buying an additional 1,109,550 shares during the last quarter. Earnest Partners LLC purchased a new stake in AerSale during the 4th quarter valued at about $5,110,000. Alyeska Investment Group L.P. bought a new position in AerSale during the 4th quarter worth approximately $4,977,000. M3F Inc. increased its stake in AerSale by 20.0% in the 1st quarter. M3F Inc. now owns 3,983,632 shares of the company’s stock worth $24,778,000 after purchasing an additional 664,487 shares during the period. Finally, Vanguard Group Inc. lifted its position in AerSale by 29.3% in the third quarter. Vanguard Group Inc. now owns 1,965,792 shares of the company’s stock valued at $16,100,000 after purchasing an additional 444,954 shares during the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

AerSale Company Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear?down and component overhaul, used serviceable material programs and end?of?life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.