Short Interest in Air Transport Services Group, Inc. (NASDAQ:ATSG) Drops By 6.1%

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,820,000 shares, a decrease of 6.1% from the July 15th total of 4,070,000 shares. Approximately 7.5% of the company’s shares are sold short. Based on an average daily trading volume, of 449,500 shares, the short-interest ratio is presently 8.5 days.

Air Transport Services Group Stock Down 2.3 %

Shares of NASDAQ:ATSG opened at $15.14 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.63 and a current ratio of 0.75. Air Transport Services Group has a 52-week low of $11.62 and a 52-week high of $22.17. The firm has a market capitalization of $995.06 million, a P/E ratio of 24.03 and a beta of 0.84. The stock has a 50 day moving average price of $14.43 and a 200-day moving average price of $13.73.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Air Transport Services Group had a return on equity of 6.61% and a net margin of 2.37%. The business had revenue of $488.41 million during the quarter, compared to the consensus estimate of $513.67 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Air Transport Services Group will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ATSG shares. 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. Stifel Nicolaus boosted their price target on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 12th. Truist Financial increased their price objective on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Susquehanna boosted their target price on Air Transport Services Group from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, TD Cowen raised their price target on Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Pullen Investment Management LLC grew its holdings in Air Transport Services Group by 3.6% in the second quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company’s stock worth $254,000 after purchasing an additional 640 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Air Transport Services Group by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock worth $386,000 after buying an additional 733 shares during the last quarter. CWM LLC increased its position in Air Transport Services Group by 53.9% during the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after buying an additional 767 shares in the last quarter. New York State Common Retirement Fund raised its stake in Air Transport Services Group by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company’s stock valued at $767,000 after buying an additional 960 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Air Transport Services Group by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company’s stock worth $550,000 after acquiring an additional 1,158 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.

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.