Fly Leasing Limited (FLY) Position Trimmed by Adirondack Research & Management Inc.

Adirondack Research & Management Inc. decreased its position in shares of Fly Leasing Limited (NYSE:FLY) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 365,181 shares of the transportation company’s stock after selling 107,726 shares during the quarter. Fly Leasing Limited accounts for approximately 2.0% of Adirondack Research & Management Inc.’s investment portfolio, making the stock its 15th largest position. Adirondack Research & Management Inc. owned 1.21% of Fly Leasing Limited worth $5,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in Fly Leasing Limited by 1.2% during the second quarter. State Street Corp now owns 35,405 shares of the transportation company’s stock worth $476,000 after purchasing an additional 425 shares during the period. Ameriprise Financial Inc. lifted its position in Fly Leasing Limited by 6.7% during the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after purchasing an additional 817 shares during the period. Parametric Portfolio Associates LLC lifted its position in Fly Leasing Limited by 8.2% during the second quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock worth $253,000 after purchasing an additional 1,424 shares during the period. Renaissance Group LLC lifted its position in Fly Leasing Limited by 10.5% during the second quarter. Renaissance Group LLC now owns 30,222 shares of the transportation company’s stock worth $406,000 after purchasing an additional 2,874 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Fly Leasing Limited by 18.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 30,960 shares of the transportation company’s stock worth $407,000 after purchasing an additional 4,851 shares during the period. 45.88% of the stock is owned by institutional investors and hedge funds.

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Several research firms recently weighed in on FLY. BidaskClub cut shares of Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine cut shares of Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research cut shares of Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Compass Point reissued a “buy” rating and issued a $19.00 target price (up previously from $17.00) on shares of Fly Leasing Limited in a report on Tuesday, October 3rd. Finally, Cowen and Company reissued a “buy” rating and issued a $16.00 target price on shares of Fly Leasing Limited in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.60.

Fly Leasing Limited (FLY) traded up $0.15 during mid-day trading on Friday, hitting $13.45. 60,630 shares of the stock were exchanged, compared to its average volume of 91,053. The company has a market capitalization of $385.99, a PE ratio of 11.50, a P/E/G ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.18 and a quick ratio of 1.18. Fly Leasing Limited has a 52-week low of $11.91 and a 52-week high of $14.65.

Fly Leasing Limited 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.

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

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