Air Transport Services Group, Inc. (NASDAQ:ATSG) Sees Significant Drop in Short Interest

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,770,000 shares, a drop of 9.6% from the March 31st total of 4,170,000 shares. Approximately 7.4% of the company’s stock are sold short. Based on an average daily volume of 634,800 shares, the short-interest ratio is currently 5.9 days.

Institutional Investors Weigh In On Air Transport Services Group

A number of institutional investors have recently added to or reduced their stakes in ATSG. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Air Transport Services Group in the 4th quarter worth approximately $26,000. CWM LLC boosted its holdings in shares of Air Transport Services Group by 53.9% in the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock worth $39,000 after acquiring an additional 767 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Air Transport Services Group by 64,275.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,575 shares of the transportation company’s stock worth $450,000 after acquiring an additional 2,571 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Air Transport Services Group in the 4th quarter worth approximately $90,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Air Transport Services Group in the 3rd quarter worth approximately $196,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Stock Performance

ATSG traded down $0.24 on Tuesday, hitting $12.79. 176,092 shares of the stock traded hands, compared to its average volume of 613,635. Air Transport Services Group has a 52 week low of $11.62 and a 52 week high of $24.96. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $840.05 million, a PE ratio of 17.37 and a beta of 0.85. The business has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $15.32.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Monday, February 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). The firm had revenue of $517.04 million for the quarter, compared to the consensus estimate of $521.04 million. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. On average, research analysts predict that Air Transport Services Group will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ATSG shares. StockNews.com lowered Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Susquehanna cut their target price on Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Truist Financial dropped their price objective on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.33.

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.