Cannell Peter B & Company Inc Increased Air Lease Corp (NYSE:AL) Stake by $32.39 Million

August 12, 2018 - By Jenna Rose

Air Lease Corporation (NYSE:AL) LogoInvestors sentiment increased to 1.15 in Q1 2018. Its up 0.06, from 1.09 in 2017Q4. It increased, as 31 investors sold AL shares while 81 reduced holdings. 49 funds opened positions while 80 raised stakes. 85.26 million shares or 4.73% less from 89.49 million shares in 2017Q4 were reported. Gradient Ltd Liability Corp invested in 0.03% or 13,239 shares. Jacobs Levy Equity holds 0.01% of its portfolio in Air Lease Corporation (NYSE:AL) for 18,254 shares. Denali Advisors, a California-based fund reported 89,900 shares. Markston Lc, New York-based fund reported 200 shares. Hightower Advsrs Limited Liability Company reported 61,136 shares stake. Cwm Limited Com reported 0% stake. Nfc Invs Ltd Liability Corporation stated it has 317,975 shares or 4.76% of all its holdings. Huntington Comml Bank invested 0.08% of its portfolio in Air Lease Corporation (NYSE:AL). Massachusetts Fincl Services Ma has invested 0% in Air Lease Corporation (NYSE:AL). Barclays Public Ltd Liability reported 40,368 shares. Raymond James Tru Na holds 0.02% or 8,391 shares in its portfolio. Segall Bryant & Hamill Ltd Company stated it has 1.15 million shares or 1.13% of all its holdings. Prelude Cap Ltd Liability Corp invested in 3,960 shares or 0.01% of the stock. Cipher Limited Partnership invested in 0.31% or 60,695 shares. Victory Cap Mngmt reported 66,756 shares or 0.01% of all its holdings.

Since February 28, 2018, it had 0 insider buys, and 10 insider sales for $8.00 million activity. Baer Marc H sold $132,870 worth of Air Lease Corporation (NYSE:AL) on Thursday, March 8. UDVAR-HAZY STEVEN F also sold $1.34 million worth of Air Lease Corporation (NYSE:AL) on Friday, March 16. The insider Poerschke John D sold $546,180. Korde Kishore sold $88,660 worth of Air Lease Corporation (NYSE:AL) on Wednesday, February 28. 2,000 Air Lease Corporation (NYSE:AL) shares with value of $86,993 were sold by Chen Jie.

Cannell Peter B & Company Inc increased its stake in Air Lease Corp (NYSE:AL) by 122.39% based on its latest 2018Q2 regulatory filing with the SEC. Cannell Peter B & Company Inc bought 790,105 shares as the company’s stock declined 1.91% with the market. The hedge fund held 1.44 million shares of the diversified commercial services company at the end of 2018Q2, valued at $60.26M, up from 645,586 at the end of the previous reported quarter. Cannell Peter B & Company Inc who had been investing in Air Lease Corp for a number of months, seems to be bullish on the $4.69B market cap company. The stock increased 2.17% or $0.96 during the last trading session, reaching $45.1. About 1.15 million shares traded or 86.28% up from the average. Air Lease Corporation (NYSE:AL) has risen 18.97% since August 13, 2017 and is uptrending. It has outperformed by 6.40% the S&P500.

Cannell Peter B & Company Inc, which manages about $3.77 billion and $2.67 billion US Long portfolio, decreased its stake in Micron Technology Inc (NASDAQ:MU) by 298,030 shares to 204,800 shares, valued at $10.74 million in 2018Q2, according to the filing. It also reduced its holding in Hd Supply Holdings Inc (NASDAQ:HDS) by 330,040 shares in the quarter, leaving it with 1.38M shares, and cut its stake in Celgene Corp (NASDAQ:CELG).

Cannell Peter B & Company Inc is a New York-based hedge fund that was founded by J. Carlo Cannell. It had more than $3.77 billion assets under management in November, 2014. Taken from Cannell Peter B & Company latest Adv, the fund reported to have 23 full and part-time employees. Among which 10 performing investment advisory and research functions. The hedge fund had more than 800 clients.

Air Lease Corporation (NYSE:AL) Ratings Coverage

Among 7 analysts covering Air Lease (NYSE:AL), 4 have Buy rating, 1 Sell and 2 Hold. Therefore 57% are positive. Air Lease had 8 analyst reports since February 21, 2018 according to SRatingsIntel. Bank of America upgraded the stock to “Buy” rating in Friday, March 9 report. UBS maintained the stock with “Sell” rating in Wednesday, February 21 report. The stock has “Neutral” rating by Citigroup on Wednesday, February 28. The stock has “Equal-Weight” rating by Morgan Stanley on Thursday, April 12. Credit Suisse maintained the stock with “Outperform” rating in Friday, February 23 report. The rating was maintained by JP Morgan on Tuesday, March 6 with “Overweight”. As per Friday, February 23, the company rating was maintained by RBC Capital Markets. The stock of Air Lease Corporation (NYSE:AL) has “Top Pick” rating given on Friday, August 10 by RBC Capital Markets.

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines in Asia, the Pacific Rim, Latin America, the Middle East, Europe, Africa, and North America. The company has market cap of $4.69 billion. The firm also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines. It has a 6.4 P/E ratio. In addition, it provides fleet management services to investors and owners of aircraft portfolios.

More notable recent Air Lease Corporation (NYSE:AL) news were published by: Seekingalpha.com which released: “Air Lease Corp (AL) CEO John Plueger on Q2 2018 Results – Earnings Call Transcript” on August 10, 2018, also Globenewswire.com with their article: “Consolidated Research: 2018 Summary Expectations for Nanometrics, Air Lease, Watts Water Technologies, RadNet …” published on August 03, 2018, 247Wallst.com published: “Boeing Racks Up Firm Orders at Airshow, Airbus Not So Much” on July 17, 2018. More interesting news about Air Lease Corporation (NYSE:AL) were released by: Streetinsider.com and their article: “Air Lease (AL) Initiates Portfolio Sale of 18 Aircraft to Thunderbolt II Aircraft Lease Limited” published on August 06, 2018 as well as Benzinga.com‘s news article titled: “Earnings Scheduled For August 9, 2018” with publication date: August 09, 2018.

Air Lease Corporation (NYSE:AL) Ratings Chart

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