AerSale (NASDAQ:ASLE) Price Target Cut to $8.00 by Analysts at Truist Financial

AerSale (NASDAQ:ASLE) had its target price trimmed by Truist Financial from $10.00 to $8.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ASLE has been the subject of a number of other reports. Royal Bank of Canada cut their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus cut their target price on AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

AerSale Stock Up 0.4 %

ASLE opened at $5.33 on Friday. The business has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $6.31. The company has a market cap of $282.54 million, a PE ratio of -533.00 and a beta of 0.23. AerSale has a 52 week low of $4.53 and a 52 week high of $16.69.

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

Insider Activity at AerSale

In other news, insider Nicolas Finazzo acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $5.36 per share, with a total value of $107,200.00. Following the purchase, the insider now directly owns 37,000 shares of the company’s stock, valued at approximately $198,320. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 37.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AerSale

Several hedge funds have recently bought and sold shares of the company. nVerses Capital LLC increased its stake in AerSale by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 4,900 shares of the company’s stock valued at $25,000 after purchasing an additional 2,100 shares in the last quarter. California State Teachers Retirement System grew its holdings in AerSale by 9.3% during the 1st quarter. California State Teachers Retirement System now owns 29,579 shares of the company’s stock valued at $212,000 after buying an additional 2,506 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in AerSale by 33.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,027 shares of the company’s stock valued at $97,000 after buying an additional 3,531 shares during the last quarter. American International Group Inc. grew its holdings in AerSale by 30.5% during the 1st quarter. American International Group Inc. now owns 16,605 shares of the company’s stock valued at $119,000 after buying an additional 3,878 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in AerSale by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 36,480 shares of the company’s stock valued at $252,000 after buying an additional 4,134 shares during the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

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).