AerSale (NASDAQ:ASLE) PT Lowered to $8.00

AerSale (NASDAQ:ASLE) had its price target lowered by Truist Financial from $10.00 to $8.00 in a research note released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada dropped their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus decreased their price target on AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

AerSale Price Performance

NASDAQ ASLE opened at $5.33 on Friday. AerSale has a 52 week low of $4.53 and a 52 week high of $16.69. The firm has a market capitalization of $282.54 million, a price-to-earnings ratio of -533.00 and a beta of 0.23. The company has a fifty day moving average of $5.06 and a two-hundred day moving average of $6.28.

AerSale (NASDAQ:ASLE) last released its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.15). The firm had revenue of $77.10 million during the quarter, compared to the consensus estimate of $87.66 million. AerSale had a negative return on equity of 0.95% and a negative net margin of 0.07%. AerSale’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Equities research analysts anticipate that AerSale will post 0.21 EPS for the current year.

Insider Activity at AerSale

In other news, insider Nicolas Finazzo bought 20,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $5.36 per share, with a total value of $107,200.00. Following the transaction, the insider now directly owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AerSale

A number of hedge funds and other institutional investors have recently modified their holdings of ASLE. GSA Capital Partners LLP purchased a new stake in shares of AerSale during the 1st quarter worth $856,000. Private Capital Management LLC grew its stake in AerSale by 27.4% during the 1st quarter. Private Capital Management LLC now owns 1,849,539 shares of the company’s stock worth $13,280,000 after buying an additional 398,200 shares during the last quarter. Janus Henderson Group PLC increased its position in AerSale by 21.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,167,215 shares of the company’s stock valued at $15,560,000 after buying an additional 377,397 shares in the last quarter. Millennium Management LLC raised its stake in AerSale by 520.7% in the second quarter. Millennium Management LLC now owns 581,814 shares of the company’s stock valued at $4,026,000 after buying an additional 488,081 shares during the last quarter. Finally, Raffles Associates LP acquired a new stake in AerSale in the second quarter worth about $692,000. 69.48% of the stock is currently owned by institutional investors.

AerSale Company Profile

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).