Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Update

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 2,210,000 shares, a decline of 14.0% from the November 30th total of 2,570,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

ATSG has been the topic of several recent research reports. Truist Financial upped their price objective on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Loop Capital restated a “hold” rating and set a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on shares of Air Transport Services Group in a research report on Tuesday. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.60.

Institutional Trading of Air Transport Services Group

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Air Transport Services Group by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,112 shares of the transportation company’s stock valued at $3,802,000 after acquiring an additional 14,957 shares during the last quarter. American Century Companies Inc. boosted its holdings in Air Transport Services Group by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company’s stock valued at $25,855,000 after purchasing an additional 239,919 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Air Transport Services Group in the 2nd quarter valued at approximately $45,000. Hsbc Holdings PLC purchased a new stake in shares of Air Transport Services Group in the 2nd quarter valued at approximately $156,000. Finally, First Eagle Investment Management LLC increased its holdings in shares of Air Transport Services Group by 3.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 503,330 shares of the transportation company’s stock worth $6,981,000 after buying an additional 15,400 shares during the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Price Performance

ATSG stock remained flat at $21.97 during trading on Tuesday. The company had a trading volume of 524,362 shares, compared to its average volume of 715,062. Air Transport Services Group has a 12 month low of $11.62 and a 12 month high of $22.33. The business’s fifty day moving average price is $21.06 and its 200-day moving average price is $17.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The stock has a market cap of $1.44 billion, a PE ratio of -549.11 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The firm had revenue of $471.00 million during the quarter, compared to analyst estimates of $507.46 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Air Transport Services Group will post 0.81 EPS for the current fiscal year.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.