AeroCentury (ACY) Cut to C at TheStreet

TheStreet downgraded shares of AeroCentury (NYSEAMERICAN:ACY) from a b rating to a c rating in a report issued on Wednesday morning.

Separately, Zacks Investment Research raised shares of AeroCentury from a sell rating to a hold rating in a research note on Monday, February 12th.

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AeroCentury opened at $15.75 on Wednesday, MarketBeat Ratings reports. AeroCentury has a 52-week low of $9.98 and a 52-week high of $17.34.

AeroCentury (NYSEAMERICAN:ACY) last released its quarterly earnings results on Tuesday, March 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. AeroCentury had a return on equity of 3.75% and a net margin of 4.61%. The business had revenue of $11.18 million during the quarter, compared to the consensus estimate of $9.12 million.

Hedge funds have recently made changes to their positions in the stock. Perritt Capital Management Inc. raised its stake in AeroCentury by 33.7% in the 4th quarter. Perritt Capital Management Inc. now owns 70,954 shares of the company’s stock valued at $1,081,000 after purchasing an additional 17,877 shares during the last quarter. Deutsche Bank AG raised its stake in AeroCentury by 100.3% in the 4th quarter. Deutsche Bank AG now owns 7,950 shares of the company’s stock valued at $121,000 after purchasing an additional 3,980 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in AeroCentury by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 42,400 shares of the company’s stock valued at $646,000 after purchasing an additional 13,200 shares during the last quarter.

About AeroCentury

AeroCentury Corp., together with its subsidiaries, acquires and leases aircraft and aircraft engines to regional airlines in the United States and internationally. The company provides operating and finance leasing services of mid-life regional aircraft to carriers. It also sells aircraft from its operating lease portfolio to third parties, which includes other leasing companies, financial services companies, and airlines, as well as engages in parting out aircraft.