Fly Leasing Ltd. (FLY) Sees Large Volume Increase
Fly Leasing Ltd. (NYSE:FLY) shares saw unusually-high trading volume on Monday . Approximately 253,182 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 147,516 shares.The stock last traded at $11.76 and had previously closed at $11.76.
FLY has been the topic of a number of recent research reports. Citigroup Inc. dropped their target price on Fly Leasing from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 19th. Zacks Investment Research lowered Fly Leasing from a “hold” rating to a “sell” rating in a research report on Monday, June 20th. TheStreet raised Fly Leasing from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. Deutsche Bank AG boosted their price target on Fly Leasing from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Cowen and Company boosted their price target on Fly Leasing from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.67.
The firm has a market cap of $392.16 million, a price-to-earnings ratio of 7.64 and a beta of 1.02. The firm has a 50-day moving average price of $11.92 and a 200-day moving average price of $11.71.
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Fly Leasing (NYSE:FLY) last announced its earnings results on Thursday, July 28th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12. Fly Leasing had a return on equity of 19.23% and a net margin of 14.69%. The company had revenue of $76.34 million for the quarter, compared to analyst estimates of $80.88 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fly Leasing Ltd. will post $1.26 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its stake in shares of Fly Leasing by 1.5% in the second quarter. Cubist Systematic Strategies LLC now owns 13,859 shares of the company’s stock valued at $138,000 after buying an additional 201 shares during the last quarter. Westport Resources Management Inc. raised its stake in shares of Fly Leasing by 25.2% in the second quarter. Westport Resources Management Inc. now owns 15,900 shares of the company’s stock valued at $158,000 after buying an additional 3,200 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Fly Leasing by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 17,700 shares of the company’s stock valued at $176,000 after buying an additional 113 shares during the last quarter. State Street Corp raised its stake in shares of Fly Leasing by 22.4% in the first quarter. State Street Corp now owns 20,119 shares of the company’s stock valued at $256,000 after buying an additional 3,687 shares during the last quarter. Finally, Nuveen Fund Advisors LLC acquired a new stake in shares of Fly Leasing during the second quarter valued at approximately $220,000. Institutional investors own 52.89% of the company’s stock.
Fly Leasing Company Profile
Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31, 2014, the Company’s aircraft portfolio consisted of 127 commercial jet aircraft, consisting of 116 narrow-body passenger aircraft, including two freighters, and 11 wide-body passenger aircraft.
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