Insider Selling: Air Lease Corp CEO Sells 10,000 Shares of Stock (AL)
Air Lease Corp (NYSE:AL) CEO Steven F. Udvar-Hazy unloaded 10,000 shares of the stock on the open market in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $37.00, for a total transaction of $370,000.00. Following the transaction, the chief executive officer now directly owns 986,380 shares in the company, valued at approximately $36,496,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on AL. Analysts at Zacks downgraded shares of Air Lease Corp from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $43.20 price target on the stock. Separately, analysts at RBC Capital upgraded shares of Air Lease Corp from an “outperform” rating to a “top pick” rating in a research note on Monday. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at RBC Capital raised their price target on shares of Air Lease Corp from $48.00 to $49.00 in a research note on Friday, July 18th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.36.
Shares of Air Lease Corp (NYSE:AL) traded up 5.27% during mid-day trading on Friday, hitting $37.16. The stock had a trading volume of 1,366,661 shares. Air Lease Corp has a 1-year low of $25.74 and a 1-year high of $42.89. The stock’s 50-day moving average is $37.08 and its 200-day moving average is $36.65. The company has a market cap of $3.787 billion and a price-to-earnings ratio of 17.75. Air Lease Corp also saw some unusual options trading activity on Thursday. Traders bought 461 call options on the company. This is an increase of approximately 469% compared to the typical daily volume of 81 call options.
Air Lease Corp (NYSE:AL) last announced its earnings results on Thursday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $256.30 million for the quarter, compared to the consensus estimate of $246.16 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, analysts predict that Air Lease Corp will post $2.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 6th. Shareholders of record on Monday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, September 11th.
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing commercial aircraft which the Company, in turn, lease to airlines around the world.
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