Keeley Asset Management Corp increased its stake in Air Lease Corp (AL) by 40.33% based on its latest 2016Q3 regulatory filing with the SEC. Keeley Asset Management Corp bought 554,869 shares as the company’s stock rose 4.96% with the market. The institutional investor held 1.93 million shares of the diversified commercial services company at the end of 2016Q3, valued at $55.18M, up from 1.38M at the end of the previous reported quarter. Keeley Asset Management Corp who had been investing in Air Lease Corp for a number of months, seems to be bullish on the $3.80B market cap company. The stock is up 0.63% or $0.22 after the positive news, hitting $35.94 per share. About 515,607 shares traded hands. Air Lease Corp (NYSE:AL) has risen 20.16% since June 7, 2016 and is uptrending. It has outperformed by 12.74% the S&P500.
Keeley Asset Management Corp, which manages about $5.91B and $2.35B US Long portfolio, decreased its stake in Abm Industries Inc. (NYSE:ABM) by 99,405 shares to 860,155 shares, valued at $34.15M in 2016Q3, according to the filing. It also reduced its holding in Investor Bancorp Inc. (NASDAQ:ISBC) by 383,145 shares in the quarter, leaving it with 10,000 shares, and cut its stake in Umb Financial Corp (NASDAQ:UMBF).
Keeley Asset Management Corp is a Illinois-based institutional investor with more than $5.91 billion AUM in March, 2014. Taken from Keeley Asset Management latest Adv, the fund reported to have 25 full and part-time employees. Among which 13 performing investment advisory and research functions. The institutional investor had more than 800 clients.
Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q3. Its down 0.10, from 1.21 in 2016Q2. The ratio worsened, as 22 funds sold all AL shares owned while 83 reduced positions. 38 funds bought stakes while 79 increased positions. They now own 89.93 million shares or 1.32% more from 88.75 million shares in 2016Q2. Moreover, Basswood Management Ltd Company has 0.89% invested in Air Lease Corp (NYSE:AL) for 648,922 shares. Strs Ohio has invested 0.17% of its portfolio in Air Lease Corp (NYSE:AL). Great West Life Assurance Can last reported 0% of its portfolio in the stock. Renaissance Technology Ltd Com holds 209,500 shares or 0.01% of its portfolio. Amp Investors holds 0.01% of its portfolio in Air Lease Corp (NYSE:AL) for 38,939 shares. Blackrock Fund owns 992,142 shares or 0.01% of their US portfolio. Jnba Financial has 426 shares for 0% of their US portfolio. New Amsterdam Ptnrs Limited Liability holds 0.6% of its portfolio in Air Lease Corp (NYSE:AL) for 91,057 shares. The Illinois-based Old Second National Bank Of Aurora has invested 0.01% in Air Lease Corp (NYSE:AL). Swiss Bancorporation holds 0.01% or 159,200 shares in its portfolio. Pnc Financial Services Grp has 8,936 shares for 0% of their US portfolio. Raymond James And reported 389,612 shares or 0.03% of all its holdings. Fdx Advsr Incorporated has 20,397 shares for 0.02% of their US portfolio. Capital Mgmt Corp Va holds 54,795 shares or 0.58% of its portfolio. Monetary Mgmt Gru has 400 shares for 0.01% of their US portfolio.
Insider Transactions: Since November 8, 2016, the stock had 0 insider purchases, and 5 insider sales for $2.01 million net activity. Khatibi Alex A had sold 10,871 shares worth $381,457 on Friday, December 16. Milton Robert A had sold 30,000 shares worth $951,804 on Tuesday, November 8. $324,579 worth of Air Lease Corp (NYSE:AL) was sold by Levy Grant A. 3,140 shares were sold by Baer Marc H, worth $111,393. $238,680 worth of shares were sold by Saines Ian M on Monday, December 5.
More notable recent Air Lease Corp (NYSE:AL) news were published by: Zacks.com which released: “Is Air Lease Corporation a Good Value Pick at the Moment?” on January 11, 2017, also Seekingalpha.com with their article: “Air Lease Corporation: The Significance Of Rates And Ratings” published on December 30, 2016, Seekingalpha.com published: “Air Lease Corp. – Smile, It Might Never Happen” on December 05, 2016. More interesting news about Air Lease Corp (NYSE:AL) were released by: Nasdaq.com and their article: “Air Lease Corporation (AL) Ex-Dividend Date Scheduled for December 08, 2016” published on December 07, 2016 as well as Globenewswire.com‘s news article titled: “Air Lease Corporation’s Corporate Credit Rating Upgraded to BBB by Standard …” with publication date: October 18, 2016.
According to Zacks Investment Research, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California.”
Air Lease Corp (NYSE:AL) Ratings Coverage
Out of 8 analysts covering Air Lease (NYSE:AL), 8 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Air Lease has been the topic of 17 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Monday, March 14 by Citigroup. The firm has “Outperform” rating by FBR Capital given on Friday, November 4. RBC Capital Markets maintained Air Lease Corp (NYSE:AL) rating on Friday, May 6. RBC Capital Markets has “Top Pick” rating and $73 price target. The company was reinitiated on Tuesday, October 13 by FBR Capital. The rating was maintained by FBR Capital on Friday, August 5 with “Outperform”. JP Morgan upgraded the shares of AL in a report on Friday, November 13 to “Overweight” rating. The firm has “Outperform” rating given on Tuesday, November 22 by FBR Capital. The stock of Air Lease Corp (NYSE:AL) earned “Top Pick” rating by RBC Capital Markets on Friday, August 7. The company was initiated on Friday, August 21 by DA Davidson. The rating was maintained by Deutsche Bank on Friday, August 7 with “Buy”.
AL Company Profile
Air Lease Corporation, incorporated on January 22, 2010, is an aircraft leasing company. The Firm is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus S.A.S. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines. The Firm also provides fleet management services to investors and owners of aircraft portfolios for a management fee. The Firm provides aircraft to airline clients in various markets, such as Asia, the Pacific Rim, Latin America, the Middle East, Europe, Africa and North America.
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