Gagnon Securities LLC Sells 130,819 Shares of Air Lease Corporation $AL

Gagnon Securities LLC trimmed its holdings in shares of Air Lease Corporation (NYSE:AL) by 17.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 605,618 shares of the transportation company’s stock after selling 130,819 shares during the period. Air Lease accounts for about 7.7% of Gagnon Securities LLC’s holdings, making the stock its biggest holding. Gagnon Securities LLC owned approximately 0.54% of Air Lease worth $38,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AL. Archer Investment Corp boosted its position in shares of Air Lease by 5.1% in the third quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock worth $217,000 after buying an additional 165 shares during the period. New York State Common Retirement Fund lifted its position in Air Lease by 1.4% during the 3rd quarter. New York State Common Retirement Fund now owns 406,639 shares of the transportation company’s stock worth $25,883,000 after acquiring an additional 5,500 shares in the last quarter. Sage Rhino Capital LLC lifted its position in Air Lease by 4.8% during the 3rd quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock worth $253,000 after acquiring an additional 181 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Air Lease in the 3rd quarter worth approximately $171,000. Finally, Teacher Retirement System of Texas grew its position in Air Lease by 61.7% in the third quarter. Teacher Retirement System of Texas now owns 26,072 shares of the transportation company’s stock valued at $1,659,000 after acquiring an additional 9,950 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Up 0.1%

Shares of NYSE:AL opened at $64.48 on Friday. The firm has a market cap of $7.21 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. The company has a fifty day simple moving average of $64.17 and a 200 day simple moving average of $62.34. 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 Corporation has a 12-month low of $38.25 and a 12-month high of $64.53.

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

Insider Activity at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the sale, the executive vice president owned 137,206 shares in the company, valued at $8,822,345.80. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.12, for a total value of $1,218,280.00. Following the transaction, the director directly owned 1,391,366 shares in the company, valued at approximately $89,214,387.92. This represents a 1.35% decrease in their position. 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. 6.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.