Short Interest in Air Transport Services Group, Inc. (NASDAQ:ATSG) Expands By 5.3%

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,200,000 shares, a growth of 5.3% from the January 15th total of 2,090,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 4.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Air Transport Services Group by 247.7% during the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock worth $1,180,000 after purchasing an additional 51,955 shares during the period. Empowered Funds LLC grew its stake in Air Transport Services Group by 11.1% during the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after purchasing an additional 29,104 shares in the last quarter. FMR LLC raised its position in shares of Air Transport Services Group by 74.9% in the 3rd quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock valued at $3,460,000 after purchasing an additional 91,521 shares in the last quarter. Systematic Financial Management LP acquired a new stake in Air Transport Services Group in the third quarter valued at $396,000. Finally, Phocas Financial Corp. grew its holdings in Air Transport Services Group by 49.4% during the 3rd quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock worth $3,611,000 after acquiring an additional 73,752 shares in the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ATSG shares. StockNews.com initiated coverage on Air Transport Services Group in a research note on Monday. They set a “hold” rating for the company. Truist Financial lifted 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. Finally, Loop Capital restated a “hold” rating and set a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

Shares of NASDAQ:ATSG opened at $22.24 on Monday. The business has a fifty day simple moving average of $22.08 and a 200-day simple moving average of $19.04. Air Transport Services Group has a 52 week low of $11.62 and a 52 week high of $22.33. The company has a market cap of $1.46 billion, a P/E ratio of -555.86 and a beta of 0.84. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

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.