BCGM Wealth Management LLC Sells 38,324 Shares of Air Lease Corporation $AL

BCGM Wealth Management LLC reduced its stake in Air Lease Corporation (NYSE:AL) by 80.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,088 shares of the transportation company’s stock after selling 38,324 shares during the period. BCGM Wealth Management LLC’s holdings in Air Lease were worth $578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Journey Strategic Wealth LLC boosted its stake in Air Lease by 13.9% in the 3rd quarter. Journey Strategic Wealth LLC now owns 4,181 shares of the transportation company’s stock worth $266,000 after purchasing an additional 509 shares during the period. Waverton Investment Management Ltd boosted its position in shares of 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 acquiring an additional 21,000 shares during the period. M3F Inc. boosted its position in shares of Air Lease by 4.3% in the third quarter. M3F Inc. now owns 467,901 shares of the transportation company’s stock valued at $29,782,000 after acquiring an additional 19,500 shares during the period. Quantbot Technologies LP grew its stake in Air Lease by 353.4% during the third quarter. Quantbot Technologies LP now owns 15,625 shares of the transportation company’s stock valued at $995,000 after acquiring an additional 12,179 shares in the last quarter. Finally, Burren Capital Advisors Ltd bought a new stake in Air Lease during the 3rd quarter worth approximately $3,464,000. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AL. Zacks Research raised shares of Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.60.

Air Lease Stock Performance

Air Lease stock opened at $64.87 on Monday. Air Lease Corporation has a fifty-two week low of $38.25 and a fifty-two week 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 stock has a market cap of $7.27 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The firm’s fifty day moving average price is $64.47 and its 200-day moving average price is $63.59.

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

Air Lease Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Grant A. Levy sold 1,000 shares of the 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 transaction, the executive vice president owned 137,206 shares of the company’s stock, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction 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 completion of the transaction, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 595,958 shares of company stock valued at $38,158,193 over the last quarter. 6.80% of the stock is owned by corporate insiders.

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.