Fly Leasing (NYSE:FLY) Trading 7.7% Higher

Fly Leasing Ltd (NYSE:FLY) shares traded up 7.7% on Thursday . The stock traded as high as $7.86 and last traded at $7.82. 321,706 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 345,511 shares. The stock had previously closed at $7.26.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Fly Leasing from a “sell” rating to a “hold” rating in a research report on Monday. ValuEngine lowered shares of Fly Leasing from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd.

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $7.23 and its 200 day moving average is $7.06. The firm has a market capitalization of $241.62 million, a price-to-earnings ratio of 1.37 and a beta of 1.07.

Institutional investors have recently made changes to their positions in the business. UBS Group AG grew its stake in Fly Leasing by 454.9% during the second quarter. UBS Group AG now owns 4,145 shares of the transportation company’s stock worth $34,000 after buying an additional 3,398 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Fly Leasing in the first quarter worth about $66,000. Jane Street Group LLC bought a new position in shares of Fly Leasing in the first quarter worth about $71,000. Leap Investments LP bought a new position in shares of Fly Leasing in the second quarter worth about $155,000. Finally, Engineers Gate Manager LP bought a new position in shares of Fly Leasing in the first quarter worth about $218,000. Hedge funds and other institutional investors own 38.89% of the company’s stock.

About Fly Leasing (NYSE:FLY)

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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