Marathon Capital Management Has $2.72 Million Stock Position in Air Lease Corp (NYSE:AL)

Marathon Capital Management trimmed its stake in Air Lease Corp (NYSE:AL) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,750 shares of the transportation company’s stock after selling 640 shares during the period. Air Lease accounts for 1.1% of Marathon Capital Management’s portfolio, making the stock its 10th largest position. Marathon Capital Management owned 0.06% of Air Lease worth $2,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AL. Dimensional Fund Advisors LP increased its position in Air Lease by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock valued at $130,060,000 after buying an additional 289,140 shares in the last quarter. Royce & Associates LP increased its position in Air Lease by 6.8% during the 1st quarter. Royce & Associates LP now owns 3,271,375 shares of the transportation company’s stock valued at $112,372,000 after buying an additional 209,203 shares in the last quarter. Ellis Investment Partners LLC increased its position in Air Lease by 3,293.8% during the 1st quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock valued at $2,259,000 after buying an additional 2,193,019 shares in the last quarter. Federated Investors Inc. PA increased its position in Air Lease by 13.4% during the 1st quarter. Federated Investors Inc. PA now owns 2,121,044 shares of the transportation company’s stock valued at $72,858,000 after buying an additional 251,000 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in Air Lease by 6.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 1,451,922 shares of the transportation company’s stock valued at $60,022,000 after buying an additional 84,935 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Marc H. Baer sold 130,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $36.80, for a total value of $4,784,000.00. Following the sale, the executive vice president now owns 275,008 shares in the company, valued at $10,120,294.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Plueger sold 395,806 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.16, for a total value of $15,103,956.96. Following the completion of the sale, the chief executive officer now owns 914,145 shares in the company, valued at approximately $34,883,773.20. The disclosure for this sale can be found here. Insiders sold 576,477 shares of company stock worth $21,843,351 in the last 90 days. Company insiders own 8.76% of the company’s stock.

Air Lease stock traded down $0.89 during trading hours on Monday, hitting $38.61. 34,769 shares of the stock traded hands, compared to its average volume of 793,653. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average price is $40.94. The firm has a market capitalization of $4.29 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.95. Air Lease Corp has a 1 year low of $28.13 and a 1 year high of $47.34.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.01. The business had revenue of $466.00 million for the quarter, compared to the consensus estimate of $456.91 million. Air Lease had a return on equity of 11.45% and a net margin of 30.50%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS. Sell-side analysts expect that Air Lease Corp will post 5.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.35%. Air Lease’s payout ratio is 11.30%.

Several research analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Air Lease in a research report on Monday, April 8th. They set a “buy” rating and a $52.00 target price on the stock. ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Air Lease currently has an average rating of “Buy” and a consensus price target of $55.78.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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