Air Transport Services Group, Inc. (NASDAQ:ATSG) sees sharp drop in short-term interest

Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) was the target of a significant drop in short-term interest during the month of September. As of September 30, there was short interest totaling 2,080,000 shares, down 18.1% from the September 15 total of 2,540,000 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average trading volume of 319,000 shares, the short interest ratio is currently 6.5 days.

Insider buying and selling

In related news, major shareholder Amazon Com Inc sold 250,000 shares of the company in a deal that took place 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 sale, the insider now directly owns 14,178,445 shares of the company, valued at $334,753,086.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Company insiders own 1.70% of the company’s shares.

Institutional Air Transport Services Trading Group

Hedge funds have recently changed their positions in the business. TCW Group Inc. increased its stake in shares of Air Transport Services Group by 7.8% during the second quarter. TCW Group Inc. now owns 502,004 shares of the transportation company valued at $14,422,000 after purchasing an additional 36,124 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Air Transport Services Group during the first quarter, valued at approximately $1,520,000. RK Capital Management LLC purchased a new stake in shares of Air Transport Services Group during the first quarter, valued at approximately $3,345,000. SummerHaven Investment Management LLC increased its stake in shares of Air Transport Services Group by 4.6% during the first quarter. SummerHaven Investment Management LLC now owns 37,935 shares of the transportation company valued at $1,269,000 after purchasing an additional 1,665 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Air Transport Services Group by 16.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 587,572 shares of the transportation company valued at $16,881,000 after purchasing an additional 81,455 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s shares.

Changes to analyst ratings

Separately, StockNews.com began covering shares of Air Transport Services Group in a report released Wednesday. They issued a “hold” rating on the stock.

Airline Services Group trades down 1.0%

The NASDAQ ATSG opened at $27.44 on Friday. Air Transport Services Group has a one-year low of $23.32 and a one-year high of $34.54. The company’s 50-day moving average price is $28.40 and its 200-day moving average price is $29.67. The company has a debt ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market capitalization of $2.04 billion, a price-earnings ratio of 10.70 and a beta of 0.65.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its quarterly results on Thursday, August 4. The transportation company reported EPS of $0.59 for the quarter, beating the consensus estimate of $0.51 by $0.08. Air Transport Services Group achieved a net margin of 11.01% and a return on equity of 14.39%. The company posted revenue of $510.00 million for the quarter, versus analyst estimates of $505.54 million. In the same quarter last year, the company posted earnings per share of $0.35. Airline Services Group revenue for the quarter increased 24.4% compared to the same quarter last year. On average, sell-side analysts predict that Air Transport Services Group will post an EPS of 2.2 for the current year.

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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