New York State Common Retirement Fund Cuts Stake in Air Transport Services Group, Inc. (NASDAQ:ATSG)

New York State Common Retirement Fund lessened its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 80.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,934 shares of the transportation company’s stock after selling 62,925 shares during the quarter. New York State Common Retirement Fund’s holdings in Air Transport Services Group were worth $328,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ATSG. Creative Planning increased its stake in Air Transport Services Group by 33.2% in the 3rd quarter. Creative Planning now owns 13,384 shares of the transportation company’s stock worth $217,000 after acquiring an additional 3,338 shares during the last quarter. River Road Asset Management LLC raised its stake in shares of Air Transport Services Group by 2.9% in the third quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company’s stock valued at $116,085,000 after acquiring an additional 201,722 shares during the period. Empowered Funds LLC grew its holdings in Air Transport Services Group by 11.1% during the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after purchasing an additional 29,104 shares during the last quarter. Meeder Asset Management Inc. raised its position in Air Transport Services Group by 106.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,744 shares of the transportation company’s stock worth $109,000 after purchasing an additional 3,471 shares during the period. Finally, Phocas Financial Corp. lifted its stake in Air Transport Services Group by 49.4% in the third quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock worth $3,611,000 after purchasing an additional 73,752 shares during the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.

Air Transport Services Group Price Performance

NASDAQ ATSG opened at $22.29 on Wednesday. The company has a market cap of $1.47 billion, a PE ratio of -557.11 and a beta of 0.84. The firm’s 50 day moving average price is $22.16 and its 200-day moving average price is $19.63. 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, Inc. has a 52-week low of $11.62 and a 52-week high of $22.38.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $521.36 million. Sell-side analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ATSG. StockNews.com began coverage on Air Transport Services Group in a research report on Wednesday. They issued a “hold” rating on the stock. Truist Financial lifted their price objective on shares of 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 restated a “hold” rating and set a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Transport Services Group currently has a consensus rating of “Hold” and an average target price 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.