Verity Asset Management Inc. Boosts Stock Holdings in Air Lease Co. (NYSE:AL)

Verity Asset Management Inc. raised its holdings in Air Lease Co. (NYSE:AL) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,160 shares of the transportation company’s stock after purchasing an additional 1,019 shares during the quarter. Verity Asset Management Inc.’s holdings in Air Lease were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its holdings in Air Lease by 23.5% during the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock worth $748,000 after acquiring an additional 2,765 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of Air Lease during the 1st quarter worth $915,000. GSA Capital Partners LLP increased its holdings in shares of Air Lease by 1.2% in the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after purchasing an additional 217 shares in the last quarter. Texas Permanent School Fund Corp purchased a new position in shares of Air Lease in the 1st quarter valued at about $4,649,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Air Lease by 1.4% during the first 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. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Stock Up 0.0 %

Shares of NYSE AL opened at $47.32 on Friday. The firm has a fifty day moving average of $44.36 and a 200-day moving average of $46.31. The stock has a market capitalization of $5.27 billion, a PE ratio of 10.13, a P/E/G ratio of 1.32 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease Co. has a 52-week low of $36.37 and a 52-week high of $52.31.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The business had revenue of $690.16 million for the quarter, compared to analyst estimates of $681.71 million. On average, analysts anticipate that Air Lease Co. will post 4.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AL. Barclays reduced their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

About Air Lease

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.