Meros Investment Management LP Buys 65,629 Shares of AerSale Co. (NASDAQ:ASLE)

Meros Investment Management LP boosted its stake in shares of AerSale Co. (NASDAQ:ASLE) by 25.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,962 shares of the company’s stock after buying an additional 65,629 shares during the quarter. Meros Investment Management LP’s holdings in AerSale were worth $2,249,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in shares of AerSale during the fourth quarter valued at approximately $190,000. Capstone Investment Advisors LLC bought a new stake in AerSale during the 4th quarter valued at $1,589,000. Ghisallo Capital Management LLC purchased a new stake in shares of AerSale in the 4th quarter worth $875,000. Ranger Investment Management L.P. lifted its holdings in shares of AerSale by 57.2% in the 4th quarter. Ranger Investment Management L.P. now owns 2,278,295 shares of the company’s stock worth $28,923,000 after buying an additional 828,836 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of AerSale by 38.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock worth $212,000 after buying an additional 4,650 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

AerSale Price Performance

Shares of ASLE stock opened at $5.11 on Friday. The company has a market cap of $271.90 million, a P/E ratio of -510.49 and a beta of 0.23. The stock’s 50-day moving average is $5.55 and its 200 day moving average is $6.57. AerSale Co. has a 1-year low of $4.70 and a 1-year high of $16.69.

AerSale (NASDAQ:ASLE) last posted 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). AerSale had a negative net margin of 0.07% and a negative return on equity of 0.95%. The firm had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $87.66 million. During the same period in the previous year, the company earned ($0.08) EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that AerSale Co. will post 0.21 EPS for the current year.

Insider Activity

In other AerSale news, insider Nicolas Finazzo bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $5.36 per share, for a total transaction of $107,200.00. Following the purchase, the insider now directly owns 37,000 shares in the company, valued at $198,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 37.30% of the company’s stock.

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).