Short Interest in Air Transport Services Group, Inc. (NASDAQ:ATSG) Drops By 9.6%

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 3,770,000 shares, a decline of 9.6% from the March 31st total of 4,170,000 shares. Based on an average daily volume of 634,800 shares, the short-interest ratio is presently 5.9 days. Approximately 7.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Air Transport Services Group

Institutional investors have recently bought and sold shares of the stock. CWM LLC increased its position in Air Transport Services Group by 53.9% in the fourth quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock worth $39,000 after buying an additional 767 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Air Transport Services Group by 2.3% in the 4th quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company’s stock worth $767,000 after acquiring an additional 960 shares in the last quarter. Strs Ohio increased its holdings in Air Transport Services Group by 10.5% in the 3rd quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock worth $262,000 after acquiring an additional 1,200 shares in the last quarter. Jessup Wealth Management Inc raised its stake in Air Transport Services Group by 6.1% during the 1st quarter. Jessup Wealth Management Inc now owns 21,791 shares of the transportation company’s stock worth $300,000 after acquiring an additional 1,254 shares during the period. Finally, Barclays PLC lifted its holdings in Air Transport Services Group by 9.2% during the third quarter. Barclays PLC now owns 16,796 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 1,412 shares in the last quarter. 91.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ATSG shares. Truist Financial reduced their price objective on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, April 19th. StockNews.com downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, Susquehanna lowered their price objective on Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Air Transport Services Group has an average rating of “Hold” and an average price target of $23.33.

Air Transport Services Group Stock Performance

Shares of ATSG stock opened at $12.82 on Wednesday. The firm has a market capitalization of $842.02 million, a PE ratio of 17.09 and a beta of 0.85. The company has a 50 day moving average price of $12.87 and a 200-day moving average price of $15.26. Air Transport Services Group has a 52 week low of $11.62 and a 52 week high of $24.96. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, February 26th. The transportation company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). The company had revenue of $517.04 million during the quarter, compared to the consensus estimate of $521.04 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. As a group, equities research analysts expect that Air Transport Services Group will post 0.73 earnings per share for the current year.

Air Transport Services Group Company Profile

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.