ExodusPoint Capital Management LP Lowers Position in Air Lease Co. (NYSE:AL)

Posted by Defense World Staff on Feb 24th, 2023

ExodusPoint Capital Management LP cut its stake in Air Lease Co. (NYSE:AL – Get Rating) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,147 shares of the transportation company’s stock after selling 5,974 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Air Lease were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Air Lease by 169.7% in the second quarter. JPMorgan Chase & Co. now owns 3,828,241 shares of the transportation company’s stock valued at $127,979,000 after acquiring an additional 2,408,607 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Air Lease by 141.3% in the first quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock valued at $165,846,000 after acquiring an additional 2,175,100 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Air Lease by 36.7% in the first quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock valued at $243,180,000 after acquiring an additional 1,460,769 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Air Lease in the first quarter valued at approximately $58,077,000. Finally, Prudential Financial Inc. grew its holdings in Air Lease by 550.9% during the first quarter. Prudential Financial Inc. now owns 1,019,288 shares of the transportation company’s stock valued at $45,511,000 after purchasing an additional 862,698 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Air Lease Price Performance

Shares of NYSE AL opened at $43.17 on Friday. Air Lease Co. has a 1-year low of $29.75 and a 1-year high of $47.00. The stock has a fifty day simple moving average of $42.05 and a two-hundred day simple moving average of $38.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.80. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of -37.54, a price-to-earnings-growth ratio of 0.36 and a beta of 1.80.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Thursday, March 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, March 15th. Air Lease’s payout ratio is currently -69.57%.

Insider Transactions at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $39.27, for a total value of $392,700.00. Following the completion of the transaction, the executive vice president now directly owns 146,693 shares of the company’s stock, valued at $5,760,634.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AL. Credit Suisse Group reissued an “outperform” rating and set a $55.00 price objective on shares of Air Lease in a report on Friday, February 17th. Barclays reduced their price objective on Air Lease from $55.00 to $52.00 in a report on Friday, January 6th.

Air Lease Profile

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Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.