AerSale Co. (NASDAQ:ASLE) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of AerSale Co. (NASDAQ:ASLE) by 520.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,814 shares of the company’s stock after buying an additional 488,081 shares during the quarter. Millennium Management LLC owned 1.10% of AerSale worth $4,026,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of AerSale in the 2nd quarter worth approximately $107,000. American International Group Inc. lifted its holdings in shares of AerSale by 30.5% in 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 during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of AerSale in the 2nd quarter worth approximately $182,000. PNC Financial Services Group Inc. lifted its holdings in shares of AerSale by 38.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock worth $212,000 after acquiring an additional 4,650 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of AerSale by 9.3% in the 1st quarter. California State Teachers Retirement System now owns 29,579 shares of the company’s stock worth $212,000 after acquiring an additional 2,506 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AerSale

In other news, insider Nicolas Finazzo acquired 20,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $5.36 per share, with a total value of $107,200.00. Following the transaction, the insider now owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.30% of the company’s stock.

AerSale Stock Up 6.6 %

Shares of ASLE opened at $4.85 on Friday. AerSale Co. has a fifty-two week low of $4.53 and a fifty-two week high of $16.69. The firm’s 50 day moving average price is $5.10 and its 200 day moving average price is $6.38. The company has a market cap of $258.07 million, a P/E ratio of -485,000.00 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.15). AerSale had a negative return on equity of 0.95% and a negative net margin of 0.07%. The business had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $87.66 million. During the same period in the previous year, the company earned ($0.08) earnings per share. AerSale’s quarterly revenue was up 11.3% on a year-over-year basis. Research analysts forecast that AerSale Co. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

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

AerSale Company Profile

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).