Marathon Asset Management Ltd Sells 79,430 Shares of Air Lease Corporation $AL

Marathon Asset Management Ltd trimmed its holdings in Air Lease Corporation (NYSE:AL) by 26.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 221,772 shares of the transportation company’s stock after selling 79,430 shares during the period. Marathon Asset Management Ltd’s holdings in Air Lease were worth $14,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its holdings in shares of Air Lease by 273.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after acquiring an additional 407 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Air Lease by 660.8% during the third quarter. Farther Finance Advisors LLC now owns 601 shares of the transportation company’s stock worth $38,000 after purchasing an additional 522 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Air Lease by 264.1% in the first quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 647 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Air Lease by 120.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 432 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of Air Lease in the second quarter valued at about $70,000. 94.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AL. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Zacks Research downgraded shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. TD Cowen downgraded Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.50.

Air Lease Stock Performance

NYSE AL opened at $64.25 on Monday. The firm has a 50-day moving average price of $63.90 and a two-hundred day moving average price of $61.31. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.40. The company has a market capitalization of $7.18 billion, a P/E ratio of 7.44 and a beta of 1.19. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42.

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

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s payout ratio is currently 10.20%.

Insider Buying and Selling

In related news, EVP Kishore Korde sold 30,160 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the transaction, the executive vice president owned 79,263 shares of the company’s stock, valued at $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven F. Udvar-Hazy sold 64,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the sale, the director directly owned 74,000 shares of the company’s stock, valued at $4,737,480. This represents a 46.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 760,593 shares of company stock valued at $48,668,588 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Air Lease 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.