100,000 Shares in AerSale Co. (NASDAQ:ASLE) Acquired by Raffles Associates LP

Raffles Associates LP purchased a new position in shares of AerSale Co. (NASDAQ:ASLE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $692,000. AerSale accounts for 0.8% of Raffles Associates LP’s investment portfolio, making the stock its 27th biggest holding. Raffles Associates LP owned about 0.19% of AerSale as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of AerSale in the 2nd quarter valued at approximately $107,000. American International Group Inc. lifted its stake in AerSale by 30.5% during the 1st quarter. American International Group Inc. now owns 16,605 shares of the company’s stock worth $119,000 after acquiring an additional 3,878 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in AerSale during the 2nd quarter valued at about $182,000. Trexquant Investment LP purchased a new stake in AerSale during the fourth quarter worth about $190,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of AerSale by 38.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock worth $212,000 after purchasing an additional 4,650 shares in the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nicolas Finazzo purchased 20,000 shares of AerSale stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $5.36 per share, for a total transaction of $107,200.00. Following the transaction, the insider now owns 37,000 shares in the company, valued at $198,320. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 37.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ASLE shares. Stifel Nicolaus dropped their price target on shares of AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on shares of AerSale from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial decreased their price target on shares of AerSale from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

AerSale Price Performance

Shares of AerSale stock opened at $5.10 on Tuesday. The firm’s fifty day simple moving average is $5.68 and its 200-day simple moving average is $6.61. AerSale Co. has a 12 month low of $4.70 and a 12 month high of $16.69. The stock has a market capitalization of $270.35 million, a price-to-earnings ratio of -510.00 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.15). The company had revenue of $77.10 million for the quarter, compared to analyst estimates of $87.66 million. AerSale had a negative return on equity of 0.95% and a negative net margin of 0.07%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. Analysts anticipate that AerSale Co. will post 0.17 earnings per share for the current year.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).