United Services Automobile Association trimmed its holdings in shares of Fly Leasing Ltd (NYSE:FLY) by 17.9% in the second quarter, Holdings Channel reports. The firm owned 175,500 shares of the transportation company’s stock after selling 38,300 shares during the period. United Services Automobile Association’s holdings in Fly Leasing were worth $2,473,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Dalton Greiner Hartman Maher & Co. increased its position in shares of Fly Leasing by 20.9% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 285,698 shares of the transportation company’s stock worth $3,803,000 after purchasing an additional 49,363 shares during the last quarter. Uniplan Investment Counsel Inc. increased its position in shares of Fly Leasing by 1.5% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 543,957 shares of the transportation company’s stock worth $7,240,000 after purchasing an additional 7,815 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Fly Leasing during the 1st quarter worth about $286,000. Wells Fargo & Company MN increased its position in shares of Fly Leasing by 74.6% during the 1st quarter. Wells Fargo & Company MN now owns 215,137 shares of the transportation company’s stock worth $2,863,000 after purchasing an additional 91,953 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Fly Leasing by 2.1% during the 2nd quarter. US Bancorp DE now owns 349,179 shares of the transportation company’s stock worth $4,920,000 after purchasing an additional 7,050 shares during the last quarter. 49.06% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. Citigroup lifted their target price on Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a research report on Friday, August 24th. Finally, ValuEngine downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Monday, June 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.58.
NYSE FLY opened at $14.73 on Thursday. The stock has a market capitalization of $424.73 million, a price-to-earnings ratio of 163.67, a PEG ratio of 0.64 and a beta of 1.05. The company has a debt-to-equity ratio of 4.29, a current ratio of 1.33 and a quick ratio of 1.33. Fly Leasing Ltd has a 1-year low of $11.54 and a 1-year high of $15.32.
Fly Leasing (NYSE:FLY) last released its earnings results on Thursday, August 23rd. The transportation company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18. The company had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.62 million. Fly Leasing had a return on equity of 5.79% and a net margin of 7.43%. Fly Leasing’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. sell-side analysts forecast that Fly Leasing Ltd will post 2.3 earnings per share for the current fiscal year.
Fly Leasing Company Profile
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.
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