Lighthouse Investment Partners LLC Invests $4.14 Million in Air Lease Co. (NYSE:AL)

Lighthouse Investment Partners LLC purchased a new stake in shares of Air Lease Co. (NYSE:AL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87,170 shares of the transportation company’s stock, valued at approximately $4,143,000.

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP boosted its holdings in Air Lease by 1.2% in the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after purchasing an additional 217 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised 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 worth $1,119,000 after buying an additional 291 shares in the last quarter. Neo Ivy Capital Management boosted its stake 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 purchasing an additional 330 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Air Lease by 1.6% during the fourth quarter. Bank of Nova Scotia now owns 26,856 shares of the transportation company’s stock worth $1,126,000 after buying an additional 414 shares in the last quarter. Finally, CWM LLC increased its holdings in Air Lease by 16.5% during the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

AL opened at $45.79 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 1.01 and a beta of 1.59. Air Lease Co. has a 1 year low of $33.33 and a 1 year high of $52.31. The business’s 50-day moving average price is $44.98 and its two-hundred day moving average price is $47.20.

Air Lease (NYSE:AL) last released its earnings results on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). The business had revenue of $667.29 million during the quarter, compared to the consensus estimate of $687.93 million. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. Equities analysts expect that Air Lease Co. will post 6.46 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 6th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. Air Lease’s payout ratio is 16.94%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AL. Barclays dropped their target price 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. TD Cowen initiated coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.75.

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.