Stock Traders Purchase Large Volume of Put Options on Air Lease (NYSE:AL)


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Air Lease Co. (NYSE:AL) was the target of unusually large options trading on Wednesday. Stock traders purchased 1,999 put options on the stock. This is an increase of approximately 1,076% compared to the typical volume of 170 put options.

AL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Air Lease from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 11th. Credit Suisse Group upped their price target on Air Lease from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 10th. Finally, Zacks Investment Research raised Air Lease from a “strong sell” rating to a “hold” rating and set a $36.00 price target on the stock in a research report on Thursday, November 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Air Lease currently has an average rating of “Buy” and a consensus target price of $40.20.

Shares of NYSE AL opened at $44.18 on Thursday. The stock has a 50 day moving average price of $42.11 and a 200 day moving average price of $33.38. Air Lease has a 52 week low of $8.41 and a 52 week high of $49.96. The company has a debt-to-equity ratio of 2.54, a quick ratio of 3.14 and a current ratio of 3.14. The stock has a market capitalization of $5.03 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.65 and a beta of 2.20.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Saturday, November 14th. The transportation company reported $1.02 EPS for the quarter, meeting the consensus estimate of $1.02. The firm had revenue of $494.00 million during the quarter, compared to analysts’ expectations of $523.24 million. Air Lease had a return on equity of 9.83% and a net margin of 27.48%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. As a group, research analysts forecast that Air Lease will post 4.3 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Friday, December 18th were issued a $0.16 dividend. The ex-dividend date was Thursday, December 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.45%. This is a boost from Air Lease’s previous quarterly dividend of $0.15. Air Lease’s dividend payout ratio is presently 12.57%.

In other Air Lease news, EVP Alex A. Khatibi sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $41.93, for a total value of $1,006,320.00. Following the transaction, the executive vice president now directly owns 119,401 shares of the company’s stock, valued at approximately $5,006,483.93. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jie Chen sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $41.96, for a total value of $1,049,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 74,000 shares of company stock valued at $3,111,820 in the last ninety days. Corporate insiders own 6.88% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Air Lease by 30.7% during the 1st quarter. Morgan Stanley now owns 137,780 shares of the transportation company’s stock worth $3,050,000 after purchasing an additional 32,380 shares during the period. Bank of Montreal Can raised its holdings in shares of Air Lease by 18.1% during the second quarter. Bank of Montreal Can now owns 8,439 shares of the transportation company’s stock worth $224,000 after purchasing an additional 1,291 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Air Lease during the second quarter worth $413,000. Tudor Investment Corp Et Al purchased a new position in shares of Air Lease during the second quarter worth $261,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Air Lease in the second quarter valued at $2,928,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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