Private Advisor Group LLC raised its stake in Air Lease Co. (NYSE:AL – Free Report) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,821 shares of the transportation company’s stock after acquiring an additional 485 shares during the quarter. Private Advisor Group LLC’s holdings in Air Lease were worth $269,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AL. Belpointe Asset Management LLC acquired a new position in Air Lease in the first quarter valued at $28,000. Neo Ivy Capital Management purchased a new stake in Air Lease during the second quarter valued at about $31,000. CWM LLC grew its position in Air Lease by 296.1% during the third quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 681 shares during the period. Tower Research Capital LLC TRC grew its position in Air Lease by 421.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,409 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 1,139 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Air Lease during the first quarter valued at about $66,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Air Lease Price Performance
Shares of NYSE AL opened at $42.51 on Wednesday. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $45.17. The business has a 50-day moving average of $40.82 and a 200-day moving average of $39.49. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.77 and a beta of 1.64.
Wall Street Analysts Forecast Growth
AL has been the subject of a number of research reports. StockNews.com raised Air Lease from a “hold” rating to a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets initiated coverage on Air Lease in a research report on Wednesday, January 10th. They set an “outperform” rating and a $54.00 price target for the company. Finally, Barclays boosted their price target on Air Lease from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.17.
Air Lease Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.
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