Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,497,261 shares of the transportation company’s stock after selling 9,305 shares during the period. JPMorgan Chase & Co. owned approximately 2.28% of Air Transport Services Group worth $24,241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATSG. The Manufacturers Life Insurance Company lifted its holdings in shares of Air Transport Services Group by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 733 shares in the last quarter. Cetera Trust Company N.A boosted its stake in 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 buying an additional 1,355 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings 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 valued at $353,000 after buying an additional 2,518 shares during the period. Pullen Investment Management LLC increased its position in Air Transport Services Group by 17.2% during the third quarter. Pullen Investment Management LLC now owns 21,458 shares of the transportation company’s stock worth $347,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Air Transport Services Group during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Air Transport Services Group Price Performance

NASDAQ ATSG opened at $22.04 on Thursday. The firm has a market capitalization of $1.45 billion, a PE ratio of -550.86 and a beta of 0.85. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. Air Transport Services Group, Inc. has a 12 month low of $11.62 and a 12 month high of $22.33. The company’s 50 day simple moving average is $21.70 and its 200 day simple moving average is $17.58.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results 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 business had revenue of $471.00 million during the quarter, compared to analyst estimates 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%. Air Transport Services Group’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, equities research analysts forecast that Air Transport Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com started coverage on shares of Air Transport Services Group in a report on Wednesday. They issued a “hold” rating on the stock. Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.60.

About Air Transport Services Group

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.