Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 2.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 436,337 shares of the transportation company’s stock after selling 13,011 shares during the period. Raymond James & Associates owned approximately 0.66% of Air Transport Services Group worth $7,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATSG. Gladius Capital Management LP acquired a new stake in Air Transport Services Group during the 2nd quarter worth about $34,000. Meeder Asset Management Inc. acquired a new stake in Air Transport Services Group during the 2nd quarter worth about $45,000. CWM LLC grew its position in Air Transport Services Group by 144.4% during 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 during the period. Canada Pension Plan Investment Board acquired a new stake in Air Transport Services Group during the 2nd quarter worth about $58,000. Finally, Innealta Capital LLC acquired a new stake in Air Transport Services Group during the 2nd quarter worth about $73,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Trading Down 1.0 %

ATSG stock opened at $17.29 on Thursday. The company’s 50-day simple moving average is $15.80 and its 200-day simple moving average is $14.61. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 1.08. Air Transport Services Group, Inc. has a 52-week low of $11.62 and a 52-week high of $20.79. The firm has a market cap of $1.14 billion, a P/E ratio of 27.44 and a beta of 0.82.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $488.41 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. As a group, equities analysts forecast that Air Transport Services Group, Inc. will post 0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their price target on Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Truist Financial increased 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 note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Air Transport Services Group currently has an average rating of “Hold” and a consensus price target of $18.25.

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.