Marquette Asset Management LLC Takes Position in AerSale Co. (NASDAQ:ASLE)

Marquette Asset Management LLC bought a new position in AerSale Co. (NASDAQ:ASLE) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 57,226 shares of the company’s stock, valued at approximately $289,000. Marquette Asset Management LLC owned 0.11% of AerSale as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of AerSale in the third quarter worth about $59,000. The Manufacturers Life Insurance Company lifted its position in AerSale by 33.6% in the second quarter. The Manufacturers Life Insurance Company now owns 14,027 shares of the company’s stock valued at $97,000 after purchasing an additional 3,531 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of AerSale during the second quarter valued at approximately $107,000. American International Group Inc. grew its holdings in shares of AerSale by 30.5% in the first 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. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of AerSale in the second quarter worth $182,000. 69.48% of the stock is owned by institutional investors.

AerSale Trading Up 2.1 %

NASDAQ:ASLE opened at $4.88 on Wednesday. The company has a 50-day moving average price of $5.20 and a 200-day moving average price of $6.43. The stock has a market cap of $258.68 million, a price-to-earnings ratio of -488.00 and a beta of 0.23. AerSale Co. has a 12 month low of $4.66 and a 12 month high of $16.69.

AerSale (NASDAQ:ASLE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) 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 firm had revenue of $77.10 million during the quarter, compared to the consensus estimate of $87.66 million. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that AerSale Co. will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicolas Finazzo acquired 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, for a total transaction of $107,200.00. Following the completion of the purchase, the insider now owns 37,000 shares of the company’s stock, valued at $198,320. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ASLE. Truist Financial cut their price target on shares of AerSale from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus cut their target price on AerSale from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered their price target on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th.

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).