Air Lease Corporation (NYSE:AL) Short Interest Up 23.1% in January

Air Lease Corporation (NYSE:AL) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 2,323,331 shares, an increase of 23.1% from the December 31st total of 1,886,809 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 1,480,845 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 1,480,845 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.2% of the shares of the stock are sold short.

Air Lease Stock Up 0.1%

Shares of NYSE AL traded up $0.05 during midday trading on Tuesday, reaching $64.64. The company’s stock had a trading volume of 615,747 shares, compared to its average volume of 1,335,768. The stock has a 50 day simple moving average of $64.20 and a 200-day simple moving average of $62.49. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.56 and a beta of 1.13. Air Lease has a fifty-two week low of $38.25 and a fifty-two week high of $64.70.

Air Lease (NYSE:AL) last released its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 million. During the same quarter last year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts predict that Air Lease will post 5.16 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Air Lease

In related news, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the transaction, the executive vice president directly owned 50,091 shares of the company’s stock, valued at $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the transaction, the executive vice president owned 137,206 shares in the company, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 760,593 shares of company stock worth $48,668,588. Insiders own 6.80% of the company’s stock.

Institutional Trading of Air Lease

Institutional investors and hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS boosted its holdings in shares of Air Lease by 7.4% during the second quarter. KLP Kapitalforvaltning AS now owns 21,900 shares of the transportation company’s stock worth $1,285,000 after acquiring an additional 1,500 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after purchasing an additional 265,423 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Air Lease by 198.0% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 18,666 shares of the transportation company’s stock worth $1,092,000 after purchasing an additional 12,402 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Air Lease by 123.6% in the 2nd quarter. QRG Capital Management Inc. now owns 16,718 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 9,241 shares during the period. Finally, Gabelli Funds LLC bought a new stake in Air Lease in the 2nd quarter valued at $7,473,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Company Profile

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.