Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Up 7.7% in June

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,900,000 shares, a growth of 7.7% from the May 31st total of 3,620,000 shares. Based on an average trading volume of 437,000 shares, the days-to-cover ratio is presently 8.9 days. Approximately 7.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

ATSG has been the topic of several recent research reports. Susquehanna lifted their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. TD Cowen increased 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 report on Wednesday, May 8th. Finally, Truist Financial decreased their target price on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.83.

Institutional Investors Weigh In On Air Transport Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Air Transport Services Group by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,339,788 shares of the transportation company’s stock worth $132,311,000 after purchasing an additional 103,496 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Air Transport Services Group by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,013,004 shares of the transportation company’s stock worth $70,669,000 after buying an additional 175,076 shares during the period. Victory Capital Management Inc. grew its stake in shares of Air Transport Services Group by 4,734.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,197,508 shares of the transportation company’s stock valued at $38,698,000 after buying an additional 2,152,052 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Air Transport Services Group by 1.2% in the 1st quarter. U S Global Investors Inc. now owns 2,005,710 shares of the transportation company’s stock valued at $27,599,000 after buying an additional 23,356 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Air Transport Services Group by 12.7% in the 3rd quarter. American Century Companies Inc. now owns 1,155,841 shares of the transportation company’s stock valued at $24,122,000 after buying an additional 130,130 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Trading Up 2.8 %

Shares of ATSG traded up $0.39 during mid-day trading on Tuesday, reaching $14.12. The stock had a trading volume of 553,363 shares, compared to its average volume of 563,033. Air Transport Services Group has a 52-week low of $11.62 and a 52-week high of $24.96. The firm has a market cap of $927.97 million, a price-to-earnings ratio of 21.79 and a beta of 0.84. The business’s fifty day moving average is $13.39 and its 200 day moving average is $14.12. 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 quarterly 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. The business had revenue of $485.50 million during the quarter, compared to analysts’ expectations of $479.77 million. Air Transport Services Group had a net margin of 2.37% and a return on equity of 6.61%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, sell-side analysts predict that Air Transport Services Group will post 0.73 EPS for the current fiscal 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.