US Bancorp DE Sells 165,666 Shares of Fly Leasing Limited (NYSE:FLY)

US Bancorp DE lowered its stake in Fly Leasing Limited (NYSE:FLY) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 556,971 shares of the transportation company’s stock after selling 165,666 shares during the period. US Bancorp DE owned approximately 1.73% of Fly Leasing Limited worth $7,492,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Donald Smith & CO. Inc. increased its stake in shares of Fly Leasing Limited by 2.9% in the first quarter. Donald Smith & CO. Inc. now owns 3,212,478 shares of the transportation company’s stock valued at $42,148,000 after buying an additional 91,144 shares during the last quarter. FMR LLC increased its stake in shares of Fly Leasing Limited by 7.9% in the fourth quarter. FMR LLC now owns 1,312,018 shares of the transportation company’s stock valued at $17,450,000 after buying an additional 95,548 shares during the last quarter. Morgan Stanley increased its stake in shares of Fly Leasing Limited by 9.0% in the first quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock valued at $15,312,000 after buying an additional 96,040 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in shares of Fly Leasing Limited by 5.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 401,387 shares of the transportation company’s stock valued at $5,266,000 after buying an additional 21,783 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Fly Leasing Limited by 181.9% in the fourth quarter. Renaissance Technologies LLC now owns 350,084 shares of the transportation company’s stock valued at $4,656,000 after buying an additional 225,884 shares during the last quarter. 50.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Fly Leasing Limited (FLY) traded down 0.68% during midday trading on Friday, hitting $13.13. 73,885 shares of the company’s stock were exchanged. The stock’s market cap is $396.18 million. Fly Leasing Limited has a 1-year low of $11.41 and a 1-year high of $14.45. The stock’s 50 day moving average is $13.72 and its 200-day moving average is $13.36.

Fly Leasing Limited (NYSE:FLY) last issued its quarterly earnings results on Thursday, August 10th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $79.21 million during the quarter, compared to analyst estimates of $83.17 million. Fly Leasing Limited had a negative net margin of 9.68% and a positive return on equity of 11.37%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts predict that Fly Leasing Limited will post $1.12 earnings per share for the current fiscal year.

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FLY has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Fly Leasing Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. BidaskClub raised shares of Fly Leasing Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine downgraded shares of Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Fly Leasing Limited in a research report on Friday, April 21st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.90.

About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

Institutional Ownership by Quarter for Fly Leasing Limited (NYSE:FLY)

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