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Insider Trading: Fortress Investment Group Sold Some $AYR

Michael Novogratz’s Fortress Investment Group disclosed on November 16th for its recent insider transactions in Aircastle LTD (AYR). According to the filing, Fortress Investment Group made four insider sales of total 182,575 shares on November 14 and 15. The average selling price was about $11.60. Fortress Investment Group had 17.04 million shares in AYR in the second quarter, and did not make any change during the third quarter. Previously Fortress Investment Group sold 66 thousand shares on November 11th. So approximately Fortress Investment Group now holds 16.9 million shares in AYR. The stock has increased by 13% in 2011, and is now trading at $11.42.

top hedge funds

Beside Fortress Investment Group’s largest chunk in AYR, Fourteen hedge funds were bullish about the stock based on their positions in second quarter. David Dreman’s Dreman Value Management took the second. The firm increased its position by 3% to 3.28 million shares. Debra Fine’s Fine Capital Partners boosted its position by 52% and had 2.67 million shares in the stock. Jim Simons’ Renaissance Technologies increased its position by 10% and had 1.33 million shares.

From the firm’s website, Fortress Investment Group is “a leading, highly diversified global investment management firm. Fortress applies its deep experience and specialized expertise across a range of investment strategies – private equity, credit, liquid markets and traditional fixed income – on behalf of over 1,000 institutional clients and private investors worldwide”. In the second quarter, Fortress Investment Group reported a 13F portfolio of nearly $2 billion. The firm mainly invests in Services, Healthcare, and Financial sector.

Per Yahoo! Finance, Aircastle Limited, “through its subsidiaries, engages in the acquisition, lease, and sale of high-utility commercial jet aircraft to passenger and cargo airlines worldwide. The company also makes investments in various aviation assets, including debt investments secured by commercial jet aircraft. As of December 31, 2010, its portfolio consisted of 136 aircrafts that were leased to 64 lessees located in 36 countries, and managed through offices in the United States, Ireland, and Singapore. The company was formerly known as Aircastle Investment Limited. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.”

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