In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Air Lease Corp. (NYSE:AL) reported that Udvar-hazy Steven F. has picked up 7,030,593 of common stock as of 2017-02-06.
The acquisition brings the aggregate amount owned by Udvar-hazy Steven F. to a total of 7,030,593 representing a 6.7% stake in the company.
For those not familiar with the company, Air Lease Corporation is an aircraft leasing company. The Company 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 Company also provides fleet management services to investors and owners of aircraft portfolios for a management fee. The Company provides aircraft to airline customers in various markets, such as Asia, the Pacific Rim, Latin America, the Middle East, Europe, Africa and North America. The Company owns approximately 240 aircraft, including over 180 single-aisle narrowbody jet aircraft, approximately 40 twin-aisle widebody jet aircraft and over 20 turboprop aircraft.
A glance at Air Lease Corp. (NYSE:AL)’s key stats reveals a current market capitalization of 3.86 billion based on 102.84 million shares outstanding and a price at last close of $37.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-08-24, Udvar-Hazy picked up 3,000 at a purchase price of $30.23. This brings their total holding to 1,209,558 as of the date of the filing.
On the sell side, the most recent transaction saw Khatibi unload 10,871 shares at a sale price of $35.09. This brings their total holding to 143,616.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Air Lease Corp. (NYSE:AL) as things move forward to see if its progress aligns with these transactions.
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