Oppenheimer & Co. Inc. Has $575,000 Stock Holdings in Air Lease Co. (NYSE:AL)

Posted by Defense World Staff on Feb 24th, 2023

Oppenheimer & Co. Inc. lessened its stake in shares of Air Lease Co. (NYSE:AL – Get Rating) by 35.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,532 shares of the transportation company’s stock after selling 10,013 shares during the period. Oppenheimer & Co. Inc.’s holdings in Air Lease were worth $575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AL. Neo Ivy Capital Management acquired a new stake in shares of Air Lease in the second quarter worth $31,000. EverSource Wealth Advisors LLC grew its stake in shares of Air Lease by 3,417.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,653 shares of the transportation company’s stock worth $51,000 after acquiring an additional 1,606 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Air Lease by 32.7% in the third quarter. Exchange Traded Concepts LLC now owns 1,733 shares of the transportation company’s stock worth $54,000 after acquiring an additional 427 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Air Lease in the first quarter worth $66,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Air Lease by 19.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,324 shares of the transportation company’s stock worth $72,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group restated an “outperform” rating and issued a $55.00 price objective on shares of Air Lease in a research note on Friday, February 17th. Barclays decreased their price target on shares of Air Lease from $55.00 to $52.00 in a research note on Friday, January 6th.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of Air Lease stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $39.27, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.57% of the company’s stock.

Air Lease Stock Up 1.1 %

AL opened at $43.17 on Friday. The company has a market capitalization of $4.79 billion, a P/E ratio of -37.54, a P/E/G ratio of 0.36 and a beta of 1.80. The firm’s fifty day moving average price is $42.05 and its two-hundred day moving average price is $38.09. Air Lease Co. has a fifty-two week low of $29.75 and a fifty-two week high of $47.00. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.12 and a quick ratio of 1.12.

Air Lease Dividend Announcement

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

About Air Lease

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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.