Air Transport Services Group Inc. (NASDAQ:ATSG) Sees Large Increase in Short Interest

Air Transport Services Group Inc. (NASDAQ:ATSG) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,408,300 shares, an increase of 40.1% from the July 31st total of 1,719,400 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 302,400 shares, the days-to-cover ratio is currently 8.0 days.

Shares of NASDAQ ATSG traded up $0.36 during midday trading on Friday, hitting $22.45. The stock had a trading volume of 48,933 shares, compared to its average volume of 246,431. The business’s 50 day moving average is $21.11 and its 200-day moving average is $22.39. The company has a market cap of $1.28 billion, a P/E ratio of 17.96 and a beta of 0.99. Air Transport Services Group has a 52 week low of $17.06 and a 52 week high of $25.82. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 3.89.

Air Transport Services Group (NASDAQ:ATSG) last issued its earnings results on Monday, August 5th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $334.60 million for the quarter, compared to the consensus estimate of $333.05 million. Air Transport Services Group had a net margin of 2.13% and a return on equity of 21.56%. The business’s revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts expect that Air Transport Services Group will post 1.38 EPS for the current fiscal year.

A number of brokerages recently commented on ATSG. Stifel Nicolaus set a $26.00 target price on shares of Air Transport Services Group and gave the stock a “buy” rating in a research report on Thursday, May 16th. TheStreet cut shares of Air Transport Services Group from a “b-” rating to a “c” rating in a research report on Monday, August 5th. BidaskClub upgraded shares of Air Transport Services Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Air Transport Services Group has an average rating of “Hold” and an average price target of $28.80.

In related news, CFO Quint O. Turner sold 2,250 shares of Air Transport Services Group stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $24.25, for a total value of $54,562.50. Following the transaction, the chief financial officer now owns 242,823 shares in the company, valued at approximately $5,888,457.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert K. Coretz bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $200,000.00. Following the transaction, the director now owns 135,000 shares in the company, valued at $2,700,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 13,400 shares of company stock worth $269,516 and have sold 10,450 shares worth $250,641. Company insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Air Transport Services Group by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 662,506 shares of the transportation company’s stock valued at $15,111,000 after purchasing an additional 67,467 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Air Transport Services Group by 74.2% during the first quarter. SG Americas Securities LLC now owns 48,430 shares of the transportation company’s stock valued at $1,116,000 after purchasing an additional 20,622 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Air Transport Services Group during the first quarter valued at approximately $50,000. California Public Employees Retirement System raised its holdings in shares of Air Transport Services Group by 5.6% during the first quarter. California Public Employees Retirement System now owns 102,434 shares of the transportation company’s stock valued at $2,361,000 after purchasing an additional 5,462 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in shares of Air Transport Services Group during the first quarter valued at approximately $963,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

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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