Russell Investments Group Ltd. boosted its holdings in Fly Leasing Ltd (NYSE:FLY) by 9.4% in the 3rd quarter, Holdings Channel reports. The firm owned 197,575 shares of the transportation company’s stock after buying an additional 16,951 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fly Leasing were worth $2,787,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Citadel Advisors LLC increased its stake in Fly Leasing by 27.0% during the second quarter. Citadel Advisors LLC now owns 25,715 shares of the transportation company’s stock worth $363,000 after acquiring an additional 5,468 shares during the last quarter. Aperio Group LLC increased its stake in Fly Leasing by 6.7% during the third quarter. Aperio Group LLC now owns 102,977 shares of the transportation company’s stock worth $1,452,000 after acquiring an additional 6,435 shares during the last quarter. US Bancorp DE increased its stake in Fly Leasing by 2.1% during the second quarter. US Bancorp DE now owns 349,179 shares of the transportation company’s stock worth $4,920,000 after acquiring an additional 7,050 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in Fly Leasing during the second quarter worth about $316,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Fly Leasing during the second quarter worth about $344,000. Hedge funds and other institutional investors own 49.47% of the company’s stock.
Shares of NYSE FLY opened at $12.16 on Friday. Fly Leasing Ltd has a 1-year low of $11.54 and a 1-year high of $15.32. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 4.44. The stock has a market capitalization of $353.27 million, a PE ratio of 5.26, a P/E/G ratio of 0.46 and a beta of 1.01.
Fly Leasing (NYSE:FLY) last issued its earnings results on Thursday, November 8th. The transportation company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.28. Fly Leasing had a return on equity of 11.41% and a net margin of 15.32%. The company had revenue of $104.60 million during the quarter, compared to the consensus estimate of $100.68 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The company’s revenue was up 21.3% compared to the same quarter last year. On average, research analysts anticipate that Fly Leasing Ltd will post 2.69 EPS for the current fiscal year.
Several equities research analysts have commented on FLY shares. TheStreet upgraded Fly Leasing from a “d+” rating to a “c-” rating in a research note on Wednesday, September 19th. Zacks Investment Research upgraded Fly Leasing from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday, August 24th. Citigroup upped their price target on Fly Leasing from $14.00 to $14.50 and gave the stock a “sell” rating in a research note on Friday, August 24th. Finally, ValuEngine lowered Fly Leasing from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.63.
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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