Marathon Asset Management Ltd Has $14.17 Million Position in Air Lease Corporation $AL

Marathon Asset Management Ltd lessened its position in Air Lease Corporation (NYSE:AL) by 26.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 owned approximately 0.20% of Air Lease worth $14,173,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AL. KLP Kapitalforvaltning AS lifted its holdings in 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Air Lease by 7.9% in 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 acquiring an additional 265,423 shares in the last quarter. Royal Bank of Canada raised its position in shares of Air Lease by 8.3% during the first quarter. Royal Bank of Canada now owns 353,072 shares of the transportation company’s stock worth $17,057,000 after purchasing an additional 27,065 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Air Lease by 7.5% during the 1st quarter. AQR Capital Management LLC now owns 138,567 shares of the transportation company’s stock valued at $6,499,000 after purchasing an additional 9,724 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of 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 valued at $1,092,000 after purchasing an additional 12,402 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Steven F. Udvar-Hazy sold 64,000 shares of Air Lease stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $64.02, for a total value of $4,097,280.00. Following the completion of the transaction, the director owned 74,000 shares of the company’s stock, valued at $4,737,480. This trade represents a 46.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John L. Plueger sold 155,821 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the transaction, the chief executive officer owned 725,941 shares in the company, valued at $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 760,593 shares of company stock valued at $48,668,588 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Air Lease Stock Performance

Shares of AL opened at $64.25 on Monday. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 7.44 and a beta of 1.19. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.40. The firm has a fifty day simple moving average of $63.90 and a 200 day simple moving average of $61.31. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last issued its quarterly 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. The firm had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

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

Wall Street Analysts Forecast Growth

AL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Zacks Research cut shares of Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Air Lease currently has an average rating of “Hold” and an average price target of $59.50.

About Air Lease

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.