47,803 Shares in Air Lease Corporation $AL Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. purchased a new stake in shares of Air Lease Corporation (NYSE:AL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 47,803 shares of the transportation company’s stock, valued at approximately $3,043,000.

Several other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Air Lease by 2.8% in the third quarter. Rhumbline Advisers now owns 259,268 shares of the transportation company’s stock valued at $16,502,000 after acquiring an additional 7,062 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Air Lease during the 3rd quarter valued at $628,000. ProShare Advisors LLC acquired a new stake in Air Lease during the 3rd quarter valued at $398,000. Smartleaf Asset Management LLC raised its position in Air Lease by 2,451.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 944 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 907 shares during the last quarter. Finally, High Ground Investment Management LLP acquired a new position in Air Lease in the third quarter worth $34,957,000. 94.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the sale, the executive vice president directly owned 137,206 shares of the company’s stock, valued at $8,822,345.80. This represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the transaction, the executive vice president directly owned 50,091 shares in the company, valued at $3,210,833.10. The trade was a 29.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 692,185 shares of company stock worth $44,301,155. 6.64% of the stock is owned by insiders.

Air Lease Stock Performance

Shares of Air Lease stock opened at $64.68 on Friday. The firm has a fifty day moving average of $64.31 and a two-hundred day moving average of $62.80. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.56 and a beta of 1.13. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $64.74.

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.