BCK Capital Management LP Makes New $710,000 Investment in Air Lease Corporation $AL

BCK Capital Management LP bought a new position in shares of Air Lease Corporation (NYSE:AL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,147 shares of the transportation company’s stock, valued at approximately $710,000.

A number of other large investors also recently modified their holdings of the business. Alberta Investment Management Corp acquired a new stake in Air Lease during the third quarter worth about $9,548,000. Redmont Wealth Advisors LLC bought a new position in shares of Air Lease during the third quarter valued at approximately $757,000. Rothschild Investment LLC raised its position in shares of Air Lease by 32,960.0% during the 3rd quarter. Rothschild Investment LLC now owns 3,306 shares of the transportation company’s stock worth $210,000 after purchasing an additional 3,296 shares during the period. Merit Financial Group LLC raised its position in shares of Air Lease by 53.3% during the 3rd quarter. Merit Financial Group LLC now owns 14,268 shares of the transportation company’s stock worth $908,000 after purchasing an additional 4,959 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Air Lease in the 3rd quarter worth approximately $636,000. 94.59% of the stock is currently owned by institutional investors.

Air Lease Trading Up 0.2%

Shares of NYSE:AL opened at $64.92 on Friday. The company has a 50 day moving average of $64.40 and a 200-day moving average of $63.17. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 2.33. The firm has a market cap of $7.27 billion, a P/E ratio of 6.97, a P/E/G ratio of 0.54 and a beta of 1.13. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $64.92.

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

Air Lease Dividend Announcement

The company also recently disclosed 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 is Monday, March 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s dividend payout ratio is 9.45%.

Analyst Ratings Changes

A number of research analysts recently commented on AL shares. Zacks Research upgraded Air Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and set a $65.00 price target (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Air Lease has an average rating of “Hold” and an average price target of $59.60.

Insider Activity at Air Lease

In related news, EVP Kishore Korde sold 30,160 shares of Air Lease stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the transaction, the executive vice president directly owned 79,263 shares of the company’s stock, valued at $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Plueger sold 155,821 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the completion of the sale, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at $46,482,002.23. The trade was a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 641,418 shares of company stock valued at $41,062,322 over the last 90 days. 6.64% of the stock is currently owned by corporate insiders.

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.