Jessup Wealth Management Inc Grows Stake in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Jessup Wealth Management Inc grew its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 6.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 21,791 shares of the transportation company’s stock after purchasing an additional 1,254 shares during the quarter. Jessup Wealth Management Inc’s holdings in Air Transport Services Group were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ATSG. Victory Capital Management Inc. grew its stake in shares of Air Transport Services Group by 4,734.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,197,508 shares of the transportation company’s stock worth $38,698,000 after acquiring an additional 2,152,052 shares during the last quarter. U S Global Investors Inc. increased its stake in Air Transport Services Group by 38.4% during the 4th quarter. U S Global Investors Inc. now owns 1,982,354 shares of the transportation company’s stock valued at $34,909,000 after purchasing an additional 550,229 shares in the last quarter. Broad Bay Capital Management LP purchased a new position in shares of Air Transport Services Group in the fourth quarter worth $8,831,000. IPG Investment Advisors LLC lifted its stake in shares of Air Transport Services Group by 159.7% during the fourth quarter. IPG Investment Advisors LLC now owns 703,477 shares of the transportation company’s stock worth $12,388,000 after buying an additional 432,595 shares during the period. Finally, DG Capital Management LLC grew its holdings in shares of Air Transport Services Group by 137.9% during the fourth quarter. DG Capital Management LLC now owns 696,452 shares of the transportation company’s stock valued at $12,265,000 after buying an additional 403,663 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ATSG shares. Truist Financial reduced their target price on 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 raised Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Susquehanna increased their price target on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, TD Cowen lifted their price objective on shares of Air Transport Services Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Air Transport Services Group has a consensus rating of “Moderate Buy” and an average price target of $21.83.

Air Transport Services Group Stock Performance

ATSG stock traded up $0.16 during trading on Friday, hitting $13.81. 237,695 shares of the company traded hands, compared to its average volume of 560,787. Air Transport Services Group, Inc. has a 1 year low of $11.62 and a 1 year high of $24.96. The company has a market cap of $907.59 million, a PE ratio of 21.67 and a beta of 0.86. The stock’s 50-day simple moving average is $13.34 and its 200 day simple moving average is $14.17. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.75 and a quick ratio of 0.63.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, May 6th. The transportation company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Air Transport Services Group had a net margin of 2.37% and a return on equity of 6.61%. The firm had revenue of $485.50 million during the quarter, compared to analyst estimates of $479.77 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Air Transport Services Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Air Transport Services Group 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.