Short Interest in Air Lease Co. (NYSE:AL) Rises By 6.1%

Air Lease Co. (NYSE:AL) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,130,000 shares, a growth of 6.1% from the October 15th total of 2,950,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 660,300 shares, the days-to-cover ratio is presently 4.7 days.

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently bought and sold shares of AL. Eastern Bank acquired a new stake in shares of Air Lease during the 3rd quarter valued at about $27,000. Altshuler Shaham Ltd bought a new stake in Air Lease during the second quarter valued at about $29,000. GAMMA Investing LLC grew its holdings in Air Lease by 108.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after buying an additional 624 shares during the last quarter. Hilltop National Bank boosted its holdings in Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares during the period. Finally, Monetary Management Group Inc. acquired a new stake in Air Lease during the second quarter worth about $95,000. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

NYSE AL traded down $0.01 on Tuesday, hitting $48.23. The stock had a trading volume of 521,511 shares, compared to its average volume of 962,594. 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’s 50-day moving average is $44.96 and its two-hundred day moving average is $46.12. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.44 and a beta of 1.59. Air Lease has a one year low of $37.65 and a one year high of $52.31.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is currently 19.13%.

Analysts Set New Price Targets

AL has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

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.