Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Down 5.4% in November

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,620,000 shares, a decline of 5.4% from the October 31st total of 2,770,000 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average trading volume of 911,500 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank acquired a new stake in shares of Air Transport Services Group during the 2nd quarter worth $412,000. CWM LLC grew its stake in Air Transport Services Group by 144.4% during the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after buying an additional 2,480 shares in the last quarter. Gladius Capital Management LP acquired a new position in shares of Air Transport Services Group in the 2nd quarter valued at approximately $34,000. SummerHaven Investment Management LLC lifted its holdings in shares of Air Transport Services Group by 3.0% during the 2nd 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 during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Air Transport Services Group by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,112 shares of the transportation company’s stock worth $3,802,000 after acquiring an additional 14,957 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Trading Up 0.4 %

ATSG stock opened at $22.04 on Tuesday. Air Transport Services Group has a 52 week low of $11.62 and a 52 week high of $22.27. The company has a market capitalization of $1.45 billion, a PE ratio of -550.86 and a beta of 0.81. The company’s 50-day simple moving average is $18.54 and its 200 day simple moving average is $15.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Air Transport Services Group will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on ATSG shares. Stifel Nicolaus lifted their price objective on shares of Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Loop Capital reaffirmed a “hold” rating and set a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Air Transport Services Group in a report on Friday. They issued a “hold” rating on the stock. Finally, Truist Financial boosted their price objective on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Transport Services Group currently has an average rating of “Hold” and an average target price of $20.60.

About Air Transport Services Group

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.