Bank of New York Mellon Corp Acquires 14,828 Shares of AerSale Co. (NASDAQ:ASLE)

Bank of New York Mellon Corp raised its position in AerSale Co. (NASDAQ:ASLE) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,693 shares of the company’s stock after buying an additional 14,828 shares during the period. Bank of New York Mellon Corp owned 0.23% of AerSale worth $828,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. raised its position in 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 purchasing an additional 3,878 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in AerSale during the 2nd quarter valued at about $182,000. Trexquant Investment LP bought a new position in shares of AerSale in the 4th quarter valued at about $190,000. PNC Financial Services Group Inc. grew its position in shares of AerSale by 38.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock worth $212,000 after buying an additional 4,650 shares during the period. Finally, 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 worth $212,000 after acquiring an additional 2,506 shares during the period. 69.48% of the stock is owned by institutional investors.

Insider Activity at AerSale

In other news, insider Nicolas Finazzo bought 20,000 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $5.36 per share, with a total value of $107,200.00. Following the acquisition, the insider now directly 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 through this hyperlink. 37.30% of the stock is currently owned by company insiders.

AerSale Price Performance

AerSale stock opened at $5.32 on Monday. AerSale Co. has a one year low of $4.70 and a one year high of $16.69. The firm has a market cap of $282.01 million, a PE ratio of -532.00 and a beta of 0.23. The stock’s fifty day moving average price is $5.71 and its two-hundred day moving average price is $6.66.

AerSale (NASDAQ:ASLE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.15). The company had revenue of $77.10 million during the quarter, compared to the consensus estimate 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 last year, the company posted ($0.08) EPS. Sell-side analysts expect that AerSale Co. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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).