Russell Investments Group Ltd. Sells 68,326 Shares of Fly Leasing Ltd (FLY)

Russell Investments Group Ltd. decreased its position in Fly Leasing Ltd (NYSE:FLY) by 27.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,631 shares of the transportation company’s stock after selling 68,326 shares during the quarter. Russell Investments Group Ltd. owned 0.60% of Fly Leasing worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Uniplan Investment Counsel Inc. lifted its position in Fly Leasing by 27.7% in the second quarter. Uniplan Investment Counsel Inc. now owns 512,759 shares of the transportation company’s stock valued at $6,896,000 after purchasing an additional 111,372 shares during the last quarter. Gabelli Funds LLC lifted its position in Fly Leasing by 4.7% in the third quarter. Gabelli Funds LLC now owns 319,301 shares of the transportation company’s stock valued at $4,477,000 after purchasing an additional 14,301 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Fly Leasing by 630.0% in the second quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock valued at $2,609,000 after purchasing an additional 167,430 shares during the last quarter. State Street Corp lifted its position in Fly Leasing by 1.2% in the second quarter. State Street Corp now owns 35,405 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 425 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in Fly Leasing in the third quarter valued at approximately $479,000. Institutional investors own 45.02% of the company’s stock.

Several analysts have weighed in on FLY shares. ValuEngine downgraded Fly Leasing from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Cowen reissued a “buy” rating and set a $16.00 target price on shares of Fly Leasing in a research note on Tuesday, September 19th. Compass Point reissued a “buy” rating and set a $19.00 target price (up from $17.00) on shares of Fly Leasing in a research note on Tuesday, October 3rd. Zacks Investment Research cut Fly Leasing from a “hold” rating to a “strong sell” rating in a research note on Monday, November 13th. Finally, Citigroup started coverage on Fly Leasing in a research note on Friday, December 8th. They set a “sell” rating and a $13.50 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.10.

Fly Leasing Ltd (FLY) opened at $13.12 on Thursday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18. Fly Leasing Ltd has a 12 month low of $11.91 and a 12 month high of $14.65. The stock has a market capitalization of $375.08, a P/E ratio of 11.17, a PEG ratio of 8.34 and a beta of 1.07.

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

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