Arvin Capital Management LP Reduces Stock Position in Air Lease Corporation $AL

Arvin Capital Management LP cut its holdings in Air Lease Corporation (NYSE:AL) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,664 shares of the transportation company’s stock after selling 48,276 shares during the period. Air Lease comprises about 4.0% of Arvin Capital Management LP’s holdings, making the stock its 11th largest position. Arvin Capital Management LP’s holdings in Air Lease were worth $22,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Air Lease during the 3rd quarter worth about $630,000. Journey Strategic Wealth LLC increased its stake in Air Lease by 13.9% in the third quarter. Journey Strategic Wealth LLC now owns 4,181 shares of the transportation company’s stock valued at $266,000 after purchasing an additional 509 shares during the last quarter. Waverton Investment Management Ltd increased its stake in Air Lease by 5.2% in the third quarter. Waverton Investment Management Ltd now owns 426,769 shares of the transportation company’s stock valued at $27,179,000 after purchasing an additional 21,000 shares during the last quarter. M3F Inc. raised its holdings in Air Lease by 4.3% during the third quarter. M3F Inc. now owns 467,901 shares of the transportation company’s stock worth $29,782,000 after purchasing an additional 19,500 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Air Lease by 353.4% during the third quarter. Quantbot Technologies LP now owns 15,625 shares of the transportation company’s stock worth $995,000 after purchasing an additional 12,179 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the completion of the sale, the director owned 1,391,366 shares in the company, valued at $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Grant A. Levy sold 1,000 shares of Air Lease stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.30, for a total transaction of $64,300.00. Following the completion of the transaction, the executive vice president owned 137,206 shares in the company, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 595,958 shares of company stock worth $38,158,193 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Air Lease Trading Up 0.0%

NYSE AL opened at $64.71 on Wednesday. The firm’s fifty day moving average is $64.49 and its two-hundred day moving average is $63.69. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.96. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $7.25 billion, a PE ratio of 6.95, a P/E/G ratio of 0.53 and a beta of 1.11.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. The firm had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. Analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. Air Lease’s payout ratio is presently 9.45%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AL. Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Finally, Barclays reaffirmed an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.60.

Air Lease 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.