Air Lease Co. (NYSE:AL) Short Interest Down 11.4% in August

Air Lease Co. (NYSE:AL) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,120,000 shares, a decline of 11.4% from the August 15th total of 3,520,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average trading volume of 754,600 shares, the short-interest ratio is currently 4.1 days.

Wall Street Analyst Weigh In

AL has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. TD Cowen began coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.75.

Institutional Trading of Air Lease

A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP raised its position in shares of Air Lease by 1.2% during the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after acquiring an additional 217 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after buying an additional 291 shares in the last quarter. Neo Ivy Capital Management grew its position in shares of Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after buying an additional 330 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Air Lease by 6.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock valued at $272,000 after buying an additional 404 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in Air Lease by 1.6% in the fourth quarter. Bank of Nova Scotia now owns 26,856 shares of the transportation company’s stock valued at $1,126,000 after acquiring an additional 414 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Up 0.7 %

AL stock traded up $0.29 during mid-day trading on Wednesday, reaching $44.47. The company had a trading volume of 1,252,114 shares, compared to its average volume of 1,022,713. The firm has a fifty day simple moving average of $45.45 and a 200 day simple moving average of $47.14. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.59. Air Lease has a fifty-two week low of $33.33 and a fifty-two week high of $52.31.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. Analysts forecast that Air Lease will post 6.68 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, September 6th. Air Lease’s dividend payout ratio is presently 16.94%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.