Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 29.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,690 shares of the transportation company’s stock after selling 8,114 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Air Transport Services Group were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Pullen Investment Management LLC boosted its position in shares of Air Transport Services Group by 3.6% in the 2nd quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company’s stock worth $254,000 after purchasing an additional 640 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Air Transport Services Group by 3.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company’s stock worth $550,000 after purchasing an additional 1,158 shares in the last quarter. Cetera Trust Company N.A boosted its position 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 worth $177,000 after purchasing an additional 1,355 shares in the last quarter. CWM LLC boosted its position in shares of Air Transport Services Group by 144.4% in the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Air Transport Services Group by 13.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 21,815 shares of the transportation company’s stock worth $353,000 after acquiring an additional 2,518 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ATSG shares. Truist Financial raised their target price on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Loop Capital restated a “hold” rating and issued a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Finally, StockNews.com started coverage on Air Transport Services Group in a research note on Sunday. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Air Transport Services Group presently has an average rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Performance

NASDAQ ATSG opened at $21.90 on Monday. The stock has a 50-day simple moving average of $19.73 and a two-hundred day simple moving average of $16.49. The firm has a market capitalization of $1.44 billion, a P/E ratio of -547.36 and a beta of 0.85. Air Transport Services Group, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $22.33. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. On average, equities analysts forecast that Air Transport Services Group, Inc. will post 0.81 earnings per share 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.