The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $3.93 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 $4.51 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 surge of approximately 5.81%. Over the course of the year, Air Lease Corp shares have jumped approximately 22.94%. 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 $46.27, while a 200-day SMA reached $41.39. Nevertheless, trading volume fell to 0.66 million shares from 1.08 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 50.77, which, if violated, would cause prices to drop to 49.97. In the upper region, resistance lies at 51.99. The next price resistance is at 52.41. RSI (Relative Strength Index) is 70.85 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.82, which suggests the price will increase in the coming days. Percent R is at 2.30%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
