Air Transport Services Group, Inc. (NASDAQ:ATSG) Major shareholder Amazon Com Inc sells 250,000 shares
Air Transport Services Group, Inc.’s (NASDAQ:ATSG – Get Rating) largest shareholder, Amazon Com Inc, sold 250,000 shares of the company in a trade on Friday, October 7. The shares were sold at an average price of $23.61, for a total value of $5,902,500.00. Following the completion of the sale, the insider now owns 14,178,445 shares of the company, valued at $334,753,086.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Major shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.
Performance of shares in the Air transport services group
Shares of NASDAQ:ATSG traded at $0.25 in Tuesday’s midday session, hitting $27.01. 263,979 shares of the company were traded, against an average volume of 412,951. The company has a quick ratio of 1.02, a current ratio of 1.19 and a leverage ratio of 0.96. Air Transport Services Group, Inc. has a 12-month low of $23.32 and a 12-month high of $34.54. The company has a market capitalization of $2.01 billion, a price-earnings ratio of 10.38 and a beta of 0.65. The company’s fifty-day moving average price is $28.75 and its two-hundred-day moving average price is $29.75.
Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released quarterly earnings data on Thursday, August 4. The transportation company reported earnings per share (EPS) of $0.59 for the quarter, beating consensus analyst estimates of $0.51 by $0.08. Air Transport Services Group achieved a return on equity of 14.39% and a net margin of 11.01%. The company posted revenue of $510.00 million for the quarter, versus analyst estimates of $505.54 million. During the same period a year earlier, the company posted EPS of $0.35. The company’s revenue for the quarter increased by 24.4% compared to the same quarter last year. On average, stock analysts expect Air Transport Services Group, Inc. to post earnings per share of 2.2 for the current year.
Hedge funds weigh on airline services group
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its position in Air Transport Services Group by 19.2% during the first quarter. Vanguard Group Inc. now owns 6,379,988 shares of the transportation company worth $213,411,000 after buying an additional 1,029,325 shares last quarter. FMR LLC increased its equity stake in Air Transport Services Group by 2.0% in the second quarter. FMR LLC now owns 5,534,391 shares of the transportation company worth $159,002,000 after purchasing an additional 108,581 shares in the last quarter. Dimensional Fund Advisors LP increased its equity stake in Air Transport Services Group by 8.6% in Q1. Dimensional Fund Advisors LP now owns 2,771,809 shares of the transportation company worth $92,718,000 after purchasing an additional 218,622 shares in the last quarter. Driehaus Capital Management LLC increased its equity stake in Air Transport Services Group by 14.9% in the second quarter. Driehaus Capital Management LLC now owns 1,739,522 shares of the transportation company worth $49,976,000 after purchasing an additional 225,309 shares last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Air Transport Services Group by 2.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,515,720 shares of the transportation company worth $50,702,000 after buying 30,789 additional shares last quarter. 95.84% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analysts predict growth
Separately, StockNews.com downgraded Air Transport Services Group from a “buy” rating to a “hold” rating in a Saturday, June 18 research rating.
About Airline Services Group
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Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing and air cargo transportation and related services in the United States and abroad. The Company offers aircraft, flight crew, aircraft maintenance, aircraft hull and liability and aviation fuel insurance; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and aircraft line maintenance.
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