Air Lease Corporation $AL Stake Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in shares of Air Lease Corporation (NYSE:AL) by 9.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,106 shares of the transportation company’s stock after selling 6,046 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.05% of Air Lease worth $3,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. raised its holdings in shares of Air Lease by 198.0% during the second quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock valued at $1,092,000 after acquiring an additional 12,402 shares during the period. Forum Financial Management LP acquired a new stake in Air Lease during the 2nd quarter valued at $261,000. Ethic Inc. lifted its holdings in shares of Air Lease by 18.1% in the second quarter. Ethic Inc. now owns 47,149 shares of the transportation company’s stock valued at $2,768,000 after purchasing an additional 7,238 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Air Lease by 16.5% in the second quarter. Rehmann Capital Advisory Group now owns 6,448 shares of the transportation company’s stock valued at $377,000 after purchasing an additional 911 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Air Lease by 11.1% in the second quarter. Wilmington Savings Fund Society FSB now owns 18,043 shares of the transportation company’s stock worth $1,055,000 after buying an additional 1,808 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Price Performance

NYSE AL opened at $63.61 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30. The company has a 50 day moving average price of $62.92 and a two-hundred day moving average price of $57.66.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter last year, the firm earned $1.23 EPS. Air Lease’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Insider Transactions at Air Lease

In other news, EVP David Beker sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the sale, the executive vice president owned 13,970 shares in the company, valued at approximately $887,514.10. This represents a 26.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,000 shares of company stock valued at $746,380 in the last ninety days. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Barclays reiterated an “overweight” rating and issued a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.29.

Air Lease Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.