Adirondack Research & Management Inc. Has $6.36 Million Holdings in Fly Leasing Limited (FLY)

Adirondack Research & Management Inc. lessened its stake in Fly Leasing Limited (NYSE:FLY) by 12.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 472,907 shares of the transportation company’s stock after selling 67,543 shares during the period. Fly Leasing Limited accounts for approximately 2.5% of Adirondack Research & Management Inc.’s investment portfolio, making the stock its 6th largest position. Adirondack Research & Management Inc. owned 1.47% of Fly Leasing Limited worth $6,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FLY. Ameriprise Financial Inc. boosted its holdings in Fly Leasing Limited by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after acquiring an additional 817 shares in the last quarter. Renaissance Group LLC boosted its holdings in Fly Leasing Limited by 3.5% in the first quarter. Renaissance Group LLC now owns 27,348 shares of the transportation company’s stock worth $359,000 after acquiring an additional 930 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Fly Leasing Limited by 4.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock worth $271,000 after acquiring an additional 966 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in Fly Leasing Limited by 13.9% in the first quarter. Atlantic Trust Group LLC now owns 23,350 shares of the transportation company’s stock worth $306,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Fly Leasing Limited by 31.5% in the first quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock worth $228,000 after acquiring an additional 4,163 shares in the last quarter. Institutional investors own 47.26% of the company’s stock.

Fly Leasing Limited (NYSE FLY) traded up 0.15% during midday trading on Friday, hitting $13.65. The company had a trading volume of 81,166 shares. The firm has a 50-day moving average price of $13.64 and a 200-day moving average price of $13.33. The company’s market cap is $411.88 million. Fly Leasing Limited has a 12 month low of $11.41 and a 12 month high of $14.45.

Fly Leasing Limited (NYSE:FLY) last issued its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $79.21 million for the quarter, compared to analysts’ expectations of $83.17 million. Fly Leasing Limited had a positive return on equity of 11.37% and a negative net margin of 9.68%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts anticipate that Fly Leasing Limited will post $1.12 EPS for the current year.

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Several equities research analysts have weighed in on FLY shares. Zacks Investment Research raised Fly Leasing Limited from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine downgraded Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Fly Leasing Limited from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.38.

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.

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

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