Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Air Lease Corp shares valued at $530,447 were sold by Khatibi Alex A on Mar 15 ’24. At $47.37 per share, Khatibi Alex A sold 11,199 shares. The insider’s holdings dropped to 76,300 shares worth approximately $3.75 million following the completion of this transaction.
Also, Levy Grant A sold 7,500 shares, netting a total of over 351,165 in proceeds. Following the sale of shares at $46.82 each, the insider now holds 150,815 shares.
Before that, Khatibi Alex A had sold 11,198 shares from its account. In a trade valued at $482,740, the EVP traded Air Lease Corp shares for $43.11 each. Upon closing the transaction, the insider’s holdings decreased to 11,198 shares, worth approximately $4.3 million.
As published in their initiating research note from BMO Capital Markets on January 10, 2024, Air Lease Corp [AL] has been an Outperform and the price target has been revised to $54. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid November. As of May 15, 2023, Citigroup has initiated its “Neutral” rating for AL.
Analyzing AL Stock Performance
During the last five days, there has been a drop of approximately -2.01%. Over the course of the year, Air Lease Corp shares have jumped approximately 17.22%. Shares of the company reached a 52-week high of $51.77 on 03/28/24 and a 52-week low of $39.15 on 01/16/24. A 50-day SMA is recorded $44.83, while a 200-day SMA reached $41.00. Nevertheless, trading volume fell to 0.99 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Air Lease Corp (AL)
According to the 24-hour chart, there is a support level at 48.32, which, if violated, would cause prices to drop to 47.47. In the upper region, resistance lies at 49.63. The next price resistance is at 50.09. RSI (Relative Strength Index) is 59.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.86, which suggests the price will decrease in the coming days. Percent R is at 57.74%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Air Lease Corp subject to short interest?
Stocks of Air Lease Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.32 million shares to 2.95 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.63 million shares. A jump of 44.75% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.14.
