Air Lease Co. (NYSE:AL) Sees Large Drop in Short Interest

Air Lease Co. (NYSE:AL) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,690,000 shares, a decline of 9.7% from the November 15th total of 2,980,000 shares. Based on an average daily trading volume, of 682,900 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its holdings in Air Lease by 0.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after purchasing an additional 314 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after buying an additional 389 shares during the last quarter. CWM LLC lifted its stake in shares of 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 buying an additional 440 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Air Lease by 11.9% in the third quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock worth $218,000 after purchasing an additional 511 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Air Lease by 20.0% in the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after purchasing an additional 557 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

AL traded down $0.69 during trading on Tuesday, reaching $49.07. 972,550 shares of the company were exchanged, compared to its average volume of 934,036. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.55 and a beta of 1.61. Air Lease has a 12-month low of $39.15 and a 12-month high of $52.31. The company’s 50-day moving average is $47.36 and its two-hundred day moving average is $46.31.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 annualized dividend and a yield of 1.79%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is presently 20.05%.

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.