Key Points
- Willis Lease Finance CEO Austin Chandler Willis sold 46,656 shares on July 1 at an average price of $24.90, totaling about $1.16 million. After the sale, he still owned 1,352,664 shares, reducing his stake by 3.33%.
- WLFC was trading sharply higher, opening at $239.91 and recently moving up 5.9%. The stock is near its 52-week high of $244.62.
- The company is set for a 3-for-1 stock split on July 20, with new shares expected to be distributed after the close on July 6. Willis Lease Finance also recently reported stronger-than-expected quarterly earnings and revenue.
Willis Lease Finance Corporation (NASDAQ:WLFC - Get Free Report) CEO Austin Chandler Willis sold 46,656 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $1,161,578.88. Following the completion of the transaction, the chief executive officer directly owned 1,352,664 shares of the company's stock, valued at approximately $33,676,824.72. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Willis Lease Finance Trading Up 5.9%
Shares of WLFC opened at $239.91 on Tuesday. Willis Lease Finance Corporation has a 52-week low of $114.01 and a 52-week high of $244.62. The company has a quick ratio of 2.00, a current ratio of 2.43 and a debt-to-equity ratio of 3.25. The firm's fifty day moving average is $198.93 and its two-hundred day moving average is $184.92. The stock has a market cap of $1.69 billion, a PE ratio of 14.58 and a beta of 0.72.
Shares of Willis Lease Finance are going to split on Monday, July 20th. The 3-1 split was announced on Tuesday, June 23rd. The newly minted shares will be distributed to shareholders after the closing bell on Monday, July 6th.
Willis Lease Finance (NASDAQ:WLFC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The transportation company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.11. The business had revenue of $194.35 million during the quarter, compared to analysts' expectations of $175.00 million. Willis Lease Finance had a net margin of 15.72% and a return on equity of 19.22%.
Willis Lease Finance Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 11th were paid a dividend of $0.0444 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.18 dividend on an annualized basis and a yield of 0.1%. Willis Lease Finance's payout ratio is 9.72%.
Institutional Investors Weigh In On Willis Lease Finance
A number of institutional investors have recently made changes to their positions in WLFC. Four Tree Island Advisory LLC lifted its holdings in shares of Willis Lease Finance by 3.9% in the 4th quarter. Four Tree Island Advisory LLC now owns 102,259 shares of the transportation company's stock worth $13,870,000 after acquiring an additional 3,793 shares during the last quarter. Two Sigma Investments LP increased its holdings in Willis Lease Finance by 9.8% in the 3rd quarter. Two Sigma Investments LP now owns 101,386 shares of the transportation company's stock valued at $13,899,000 after purchasing an additional 9,052 shares during the last quarter. UBS Group AG raised its position in Willis Lease Finance by 15.0% in the third quarter. UBS Group AG now owns 92,194 shares of the transportation company's stock valued at $12,639,000 after purchasing an additional 12,000 shares during the period. Geode Capital Management LLC raised its position in Willis Lease Finance by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 73,452 shares of the transportation company's stock valued at $9,965,000 after purchasing an additional 947 shares during the period. Finally, Millennium Management LLC lifted its stake in Willis Lease Finance by 1,498.3% during the third quarter. Millennium Management LLC now owns 66,008 shares of the transportation company's stock worth $9,049,000 after purchasing an additional 61,878 shares in the last quarter. 93.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Weiss Ratings raised Willis Lease Finance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Freedom Capital cut shares of Willis Lease Finance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".
Get Our Latest Stock Analysis on Willis Lease Finance
About Willis Lease Finance
(
Get Free Report)
Willis Lease Finance Corporation (NASDAQ: WLFC) is an independent global provider of aircraft engine leasing, trading and aftermarket services. Founded in 1991 and headquartered in the United States, the company specializes in offering short- and long-term operating leases for jet engines and auxiliary power units. Through its broad engine portfolio, Willis Lease Finance supports a wide range of commercial aircraft across various operators, including major airlines, regional carriers and other leasing companies.
In addition to leasing solutions, Willis Lease Finance offers comprehensive engine trading and asset management services.
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