Raffles Associates LP continued to hold its position in shares of Fly Leasing Limited (NYSE:FLY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,350 shares of the transportation company’s stock at the close of the second quarter. Fly Leasing Limited makes up approximately 2.2% of Raffles Associates LP’s investment portfolio, making the stock its 14th biggest holding. Raffles Associates LP owned approximately 0.58% of Fly Leasing Limited worth $2,345,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in Fly Leasing Limited by 6.7% during the 1st quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after buying an additional 817 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Fly Leasing Limited by 31.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock valued at $228,000 after purchasing an additional 4,163 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Fly Leasing Limited by 4.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock valued at $271,000 after purchasing an additional 966 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Fly Leasing Limited in the 1st quarter valued at $349,000. Finally, Citadel Advisors LLC lifted its stake in shares of Fly Leasing Limited by 191.1% in the 2nd quarter. Citadel Advisors LLC now owns 29,401 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 19,301 shares during the period. 46.90% of the stock is currently owned by hedge funds and other institutional investors.
FLY has been the topic of several research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $16.00 price objective on shares of Fly Leasing Limited in a research note on Tuesday, September 19th. BidaskClub upgraded Fly Leasing Limited from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. ValuEngine upgraded Fly Leasing Limited from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th. Compass Point restated a “buy” rating and issued a $19.00 price objective (up previously from $17.00) on shares of Fly Leasing Limited in a report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded Fly Leasing Limited from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.60.
Fly Leasing Limited (NYSE:FLY) last posted its earnings results on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Fly Leasing Limited had a negative net margin of 9.68% and a positive return on equity of 11.37%. The firm had revenue of $79.21 million during the quarter, compared to analysts’ expectations of $83.17 million. During the same period last year, the company posted $0.45 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year.
Fly Leasing Limited Company Profile
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.
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