Alpine Associates Management Inc. Makes New Investment in Air Lease Corporation $AL

Alpine Associates Management Inc. purchased a new position in shares of Air Lease Corporation (NYSE:AL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 47,803 shares of the transportation company’s stock, valued at approximately $3,043,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Archer Investment Corp increased its position in Air Lease by 5.1% during 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 last quarter. Sage Rhino Capital LLC boosted its stake in shares of 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. Eastern Bank increased its holdings in shares of Air Lease by 33.2% during the 3rd quarter. Eastern Bank now owns 799 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 199 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Air Lease by 75.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 234 shares during the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Air Lease by 0.7% in the 2nd quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock valued at $2,398,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Insiders Place Their Bets

In other Air Lease news, Director Steven F. Udvar-Hazy sold 64,000 shares of Air Lease stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the sale, the director directly owned 74,000 shares of the company’s stock, valued at approximately $4,737,480. The trade was a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Plueger sold 155,821 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at approximately $46,482,002.23. The trade was 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 692,185 shares of company stock worth $44,301,155 over the last quarter. Company insiders own 6.64% of the company’s stock.

Air Lease Trading Down 0.0%

Shares of AL stock opened at $64.68 on Friday. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $64.74. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.56 and a beta of 1.13. 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 firm has a fifty day moving average of $64.31 and a 200-day moving average of $62.80.

Analyst Upgrades and Downgrades

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

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.