Short Interest in Air Transport Services Group, Inc. (NASDAQ:ATSG) Drops By 14.0%

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 2,210,000 shares, a decrease 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 presently 1.9 days. Approximately 4.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATSG. Meeder Asset Management Inc. acquired a new stake in shares of Air Transport Services Group during the second quarter worth about $45,000. Canada Pension Plan Investment Board purchased a new position in Air Transport Services Group during the 2nd quarter worth approximately $58,000. Blue Trust Inc. raised its position in Air Transport Services Group by 1,320.1% during the 3rd quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock worth $79,000 after buying an additional 4,528 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Air Transport Services Group during the 2nd quarter valued at approximately $156,000. Finally, Cetera Trust Company N.A boosted its holdings in shares of Air Transport Services Group by 14.2% in the 3rd quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Loop Capital reissued a “hold” rating and set a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Truist Financial upped their price target on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com assumed 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Performance

Shares of ATSG stock remained flat at $21.97 during trading hours on Tuesday. The stock had a trading volume of 524,362 shares, compared to its average volume of 715,062. Air Transport Services Group has a 1-year low of $11.62 and a 1-year 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 current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.44 billion, a P/E ratio of -549.11 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (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 business had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Equities analysts anticipate that Air Transport Services Group will post 0.81 EPS for the current 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.