Allianz Asset Management GmbH trimmed its holdings in shares of Air Transport Services Group Inc. (NASDAQ:ATSG) by 30.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 569,479 shares of the transportation company’s stock after selling 246,762 shares during the period. Allianz Asset Management GmbH owned approximately 0.96% of Air Transport Services Group worth $13,178,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC purchased a new position in Air Transport Services Group during the third quarter valued at $258,000. Prudential Financial Inc. bought a new stake in Air Transport Services Group during the third quarter valued at about $262,000. Legal & General Group Plc raised its holdings in Air Transport Services Group by 19.6% during the third quarter. Legal & General Group Plc now owns 14,779 shares of the transportation company’s stock valued at $363,000 after acquiring an additional 2,426 shares during the period. Bluestein R H & Co. bought a new stake in shares of Air Transport Services Group in the third quarter worth about $365,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Air Transport Services Group in the third quarter worth about $688,000. Institutional investors and hedge funds own 89.62% of the company’s stock.
Several equities research analysts have recently issued reports on the company. ValuEngine cut Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. TheStreet raised Air Transport Services Group from a “c” rating to a “b” rating in a research note on Wednesday, February 28th. Susquehanna Bancshares set a $27.00 target price on Air Transport Services Group and gave the company a “hold” rating in a research report on Friday, March 2nd. Imperial Capital restated an “in-line” rating and set a $26.00 target price (up previously from $23.00) on shares of Air Transport Services Group in a research report on Thursday, March 1st. Finally, Cowen boosted their price target on Air Transport Services Group from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.14.
NASDAQ:ATSG traded down $0.78 during mid-day trading on Monday, hitting $22.54. The company’s stock had a trading volume of 443,437 shares, compared to its average volume of 538,832. Air Transport Services Group Inc. has a 1 year low of $15.78 and a 1 year high of $27.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 1.00. The firm has a market cap of $1,381.42, a price-to-earnings ratio of 25.04 and a beta of 1.82.
Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings results on Tuesday, February 27th. The transportation company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. Air Transport Services Group had a net margin of 1.73% and a return on equity of 18.48%. The company had revenue of $322.97 million for the quarter, compared to analyst estimates of $270.16 million. equities research analysts predict that Air Transport Services Group Inc. will post 1.24 earnings per share for the current fiscal year.
Air Transport Services Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Air Transport Services Group news, CFO Quint O. Turner sold 7,500 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $24.60, for a total value of $184,500.00. Following the completion of the sale, the chief financial officer now owns 247,573 shares in the company, valued at approximately $6,090,295.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Richard Francis Corrado sold 11,639 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $24.81, for a total transaction of $288,763.59. Following the sale, the chief operating officer now owns 103,374 shares of the company’s stock, valued at approximately $2,564,708.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,539 shares of company stock worth $1,144,480. Corporate insiders own 2.20% of the company’s stock.
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Air Transport Services Group Company Profile
Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.
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