Renaissance Technologies LLC Cuts Stock Position in AerSale Co. (NASDAQ:ASLE)

Renaissance Technologies LLC decreased its stake in shares of AerSale Co. (NASDAQ:ASLE - Free Report) by 53.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,000 shares of the company's stock after selling 133,300 shares during the period. Renaissance Technologies LLC owned approximately 0.22% of AerSale worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of AerSale in the 2nd quarter worth about $107,000. American International Group Inc. grew its holdings in 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 period. Sequoia Financial Advisors LLC bought a new position in shares of AerSale during the second quarter valued at approximately $182,000. PNC Financial Services Group Inc. lifted its holdings in shares of AerSale by 38.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company's stock valued at $212,000 after purchasing an additional 4,650 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of AerSale by 9.3% in the 1st quarter. California State Teachers Retirement System now owns 29,579 shares of the company's stock worth $212,000 after purchasing an additional 2,506 shares in the last quarter. Hedge funds and other institutional investors own 69.48% of the company's stock.

AerSale Trading Up 2.1 %

ASLE stock traded up $0.10 on Tuesday, hitting $4.88. The company had a trading volume of 1,775,416 shares, compared to its average volume of 456,422. The stock has a market cap of $258.68 million, a price-to-earnings ratio of -483.00 and a beta of 0.23. The stock's 50-day simple moving average is $5.24 and its 200 day simple moving average is $6.44. AerSale Co. has a 12-month low of $4.66 and a 12-month high of $16.69.

AerSale (NASDAQ:ASLE - Get Free Report) last issued 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 firm 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 business's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Research analysts forecast that AerSale Co. will post 0.21 earnings per share for the current year.

Insider Activity at AerSale

In other AerSale news, insider Nicolas Finazzo acquired 20,000 shares of the business's stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $5.36 per share, with a total value of $107,200.00. Following the transaction, the insider now directly owns 37,000 shares in the company, valued at approximately $198,320. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ASLE has been the subject of a number of recent research reports. Truist Financial lowered their price objective on AerSale from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price target 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 reduced their target price on AerSale from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 9th.

AerSale 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).