Air Lease Corporation (NYSE:AL) Executive Vice President Alex A. Khatibi has recently sold a total of 11,199 shares of the company's class A common stock, according to the latest SEC filings. The transactions, which took place on March 15, 2024, amounted to over $530,000 in total value.
The shares were sold at a weighted average price of $47.3656, with individual sales prices ranging from $47.35 to $47.41. After the sale, Khatibi's direct ownership in the company stands at 76,300 shares.
Investors often monitor insider transactions as they can provide insights into how the company's executives view the stock's value and prospects. In the case of Air Lease, the sale by a high-ranking executive might attract attention from the market. However, it is important to note that insider sales can occur for a variety of reasons and may not necessarily reflect a negative outlook on the company's future.
Air Lease Corporation, with headquarters in Los Angeles, California, specializes in the rental and leasing of aircraft to airlines around the world. The company's stock is listed on the New York Stock Exchange under the ticker symbol AL.
The SEC filing provides full transparency of the transactions, including the price range and the number of shares sold. This information is readily available for investors seeking to understand the context of these recent insider stock sales.
InvestingPro Insights
Amidst the recent news of insider stock sales at Air Lease Corporation (NYSE:AL), investors are looking closely at the company's financial health and market performance. According to InvestingPro data, Air Lease boasts a market capitalization of $5.17 billion, reflecting its substantial presence in the aircraft leasing industry. The company's P/E ratio stands at a modest 8.98, suggesting that the stock may be trading at a lower earnings multiple compared to some of its peers.
One of the InvestingPro Tips highlights the company's impressive gross profit margin, which was reported to be 60.19% over the last twelve months as of Q4 2023. This indicates that Air Lease operates with a strong ability to retain a significant portion of its revenue as gross profit. Additionally, Air Lease has demonstrated a solid track record of rewarding its shareholders, raising its dividend for 11 consecutive years, a fact that may reassure investors of the company's commitment to returning value.
Investors should also take note of the company's recent stock performance. Air Lease has shown a strong return over the last month, with a 14.85% price total return as of the date of the last report. This momentum is echoed in the 6-month and 1-year price total returns, which stand at 16.2% and 27.11%, respectively, suggesting resilience and upward movement in the company's stock price.
For those interested in a deeper dive into Air Lease's financials and stock analysis, InvestingPro offers additional tips and metrics. By using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a wealth of insights that could help inform their investment decisions. Currently, there are 9 additional InvestingPro Tips available for Air Lease Corporation at https://www.investing.com/pro/AL.
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