American International Group Inc. lessened its holdings in Air Transport Services Group Inc. (NASDAQ:ATSG) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,229 shares of the transportation company’s stock after selling 1,206 shares during the period. American International Group Inc. owned about 0.06% of Air Transport Services Group worth $858,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ATSG. Oppenheimer Asset Management Inc. purchased a new stake in Air Transport Services Group in the 4th quarter worth about $30,000. Quantamental Technologies LLC acquired a new stake in Air Transport Services Group in the first quarter valued at about $50,000. Great West Life Assurance Co. Can acquired a new stake in Air Transport Services Group in the fourth quarter valued at about $73,000. Amalgamated Bank acquired a new stake in Air Transport Services Group in the fourth quarter valued at about $201,000. Finally, Suntrust Banks Inc. acquired a new stake in Air Transport Services Group in the fourth quarter valued at about $226,000. Institutional investors own 90.52% of the company’s stock.
Several equities research analysts have recently weighed in on ATSG shares. ValuEngine downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Imperial Capital reissued an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Air Transport Services Group in a research note on Tuesday, March 5th. Zacks Investment Research lowered Air Transport Services Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub lowered Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Finally, Stifel Nicolaus set a $26.00 price objective on Air Transport Services Group and gave the company a “buy” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Air Transport Services Group presently has a consensus rating of “Buy” and an average price target of $28.17.
Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.09. Air Transport Services Group had a return on equity of 20.87% and a net margin of 7.33%. The business had revenue of $348.18 million for the quarter, compared to the consensus estimate of $306.01 million. As a group, equities analysts forecast that Air Transport Services Group Inc. will post 1.32 EPS for the current year.
In other Air Transport Services Group news, CFO Quint O. Turner sold 6,125 shares of Air Transport Services Group stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $23.94, for a total transaction of $146,632.50. Following the completion of the sale, the chief financial officer now owns 242,603 shares of the company’s stock, valued at approximately $5,807,915.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert K. Coretz purchased 25,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $21.75 per share, with a total value of $543,750.00. Following the transaction, the director now owns 125,000 shares in the company, valued at approximately $2,718,750. The disclosure for this purchase can be found here. In the last three months, insiders bought 27,200 shares of company stock valued at $592,104 and sold 15,334 shares valued at $360,231. 2.30% of the stock is owned by company insiders.
About Air Transport Services Group
Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.
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