The Manufacturers Life Insurance Company Raises Stock Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

The Manufacturers Life Insurance Company raised its position in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,804 shares of the transportation company’s stock after acquiring an additional 733 shares during the period. The Manufacturers Life Insurance Company’s holdings in Air Transport Services Group were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ATSG. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Air Transport Services Group by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company’s stock valued at $41,120,000 after buying an additional 380,958 shares in the last quarter. American Century Companies Inc. increased its stake in Air Transport Services Group by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company’s stock worth $25,855,000 after buying an additional 239,919 shares during the period. Anchor Capital Management Company LLC increased its position in shares of Air Transport Services Group by 26.4% in the 2nd quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company’s stock valued at $15,534,000 after purchasing an additional 233,789 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Air Transport Services Group by 3.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 503,330 shares of the transportation company’s stock valued at $6,981,000 after purchasing an additional 15,400 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Air Transport Services Group by 104.3% in the 2nd quarter. AQR Capital Management LLC now owns 305,549 shares of the transportation company’s stock valued at $4,238,000 after buying an additional 155,984 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ATSG has been the subject of a number of recent research reports. Stifel Nicolaus increased their price target on shares of Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Truist Financial raised their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Transport Services Group has an average rating of “Hold” and a consensus price target of $18.25.

Air Transport Services Group Stock Up 2.5 %

ATSG stock opened at $16.49 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.74 and a quick ratio of 0.62. Air Transport Services Group, Inc. has a 1-year low of $11.62 and a 1-year high of $21.29. The firm has a fifty day moving average price of $15.49 and a two-hundred day moving average price of $14.36. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 26.17 and a beta of 0.82.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The company 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 for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Research analysts predict that Air Transport Services Group, Inc. will post 0.84 EPS for the current year.

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.