Los Angeles Capital Management LLC Invests $519,000 in AerSale Co. (NASDAQ:ASLE)

Los Angeles Capital Management LLC bought a new stake in shares of AerSale Co. (NASDAQ:ASLE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 74,960 shares of the company’s stock, valued at approximately $519,000. Los Angeles Capital Management LLC owned 0.14% of AerSale at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ranger Investment Management L.P. boosted its stake in shares of AerSale by 57.2% during the fourth quarter. Ranger Investment Management L.P. now owns 2,278,295 shares of the company’s stock valued at $28,923,000 after purchasing an additional 828,836 shares during the period. Private Capital Management LLC boosted its position in AerSale by 27.4% during the 1st quarter. Private Capital Management LLC now owns 1,849,539 shares of the company’s stock valued at $13,280,000 after buying an additional 398,200 shares during the period. Janus Henderson Group PLC grew its holdings in AerSale by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,167,215 shares of the company’s stock worth $15,560,000 after acquiring an additional 377,397 shares during the last quarter. Bourgeon Capital Management LLC increased its position in shares of AerSale by 83.9% in the first quarter. Bourgeon Capital Management LLC now owns 292,291 shares of the company’s stock valued at $2,099,000 after acquiring an additional 133,315 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of AerSale during the fourth quarter valued at about $1,589,000. 69.48% of the stock is currently owned by institutional investors.

AerSale Price Performance

Shares of ASLE opened at $5.19 on Friday. The company has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $6.80. The firm has a market capitalization of $276.16 million, a PE ratio of -518.48 and a beta of 0.23. AerSale Co. has a one year low of $4.70 and a one year high of $16.69.

AerSale (NASDAQ:ASLE) last released its earnings results on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.15). The firm had revenue of $77.10 million during the quarter, compared to analysts’ expectations of $87.66 million. AerSale had a negative net margin of 0.07% and a negative return on equity of 0.95%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. Analysts expect that AerSale Co. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on AerSale from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial cut their price objective on AerSale from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada decreased their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).