Air Transport Services Group, Inc. (NASDAQ:ATSG) Sees Significant Growth in Short Interest

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,200,000 shares, an increase of 5.3% from the January 15th total of 2,090,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

ATSG has been the topic of a number of recent analyst reports. Loop Capital reiterated a “hold” rating and issued a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. StockNews.com initiated coverage on Air Transport Services Group in a research note on Monday. They issued a “hold” rating on the stock. Finally, Truist Financial lifted their price objective 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Transport Services Group currently has an average rating of “Hold” and a consensus price target of $20.60.

Hedge Funds Weigh In On Air Transport Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Air Transport Services Group by 0.8% during the fourth quarter. Rhumbline Advisers now owns 83,623 shares of the transportation company’s stock valued at $1,838,000 after acquiring an additional 686 shares during the period. Cetera Trust Company N.A boosted its holdings in Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Air Transport Services Group by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,127 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 982 shares during the period. AlphaQuest LLC grew its stake in shares of Air Transport Services Group by 89.8% in the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 1,246 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of Air Transport Services Group by 797.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 1,459 shares during the period. 91.81% of the stock is currently owned by institutional investors.

Air Transport Services Group Trading Up 0.4 %

Shares of ATSG opened at $22.33 on Wednesday. Air Transport Services Group has a 12-month low of $11.62 and a 12-month high of $22.34. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -558.11 and a beta of 0.84. The stock’s 50-day moving average price is $22.08 and its 200 day moving average price is $19.09.

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.