Millennium Management LLC Sells 59,702 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Millennium Management LLC reduced its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,391 shares of the transportation company’s stock after selling 59,702 shares during the period. Millennium Management LLC owned 0.61% of Air Transport Services Group worth $5,553,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Air Transport Services Group in the 2nd quarter valued at $34,000. Meeder Asset Management Inc. acquired a new position in shares of Air Transport Services Group during the second quarter valued at about $45,000. CWM LLC increased its position in shares of Air Transport Services Group by 144.4% during the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after acquiring an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Air Transport Services Group in the 2nd quarter worth about $58,000. Finally, Innealta Capital LLC bought a new position in Air Transport Services Group in the 2nd quarter valued at about $73,000. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ATSG shares. Truist Financial raised their target price on Air Transport Services Group from $14.00 to $15.00 and gave the company a “hold” rating in a report on Monday, August 12th. Stifel Nicolaus raised their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.25.

Air Transport Services Group Stock Performance

Shares of Air Transport Services Group stock opened at $16.29 on Friday. The business’s fifty day simple moving average is $15.40 and its 200 day simple moving average is $14.32. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08. Air Transport Services Group, Inc. has a 12 month low of $11.62 and a 12 month high of $21.29. The firm has a market capitalization of $1.07 billion, a P/E ratio of 65.16 and a beta of 0.82.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $488.41 million during the quarter, compared to the consensus estimate of $513.67 million. Air Transport Services Group had a net margin of 0.90% and a return on equity of 4.24%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. As a group, analysts anticipate that Air Transport Services Group, Inc. will post 0.84 EPS for the current year.

Air Transport Services Group 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.