Air Transport Services Group, Inc. (NASDAQ:ATSG) Sees Significant Short-Term Interest Growth

Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) saw strong growth in short-term interest in the month of June. As of June 15, there was short interest totaling 2,840,000 shares, a growth of 39.2% from the total of 2,040,000 shares as of May 31. Based on an average daily trading volume of 503,900 shares, the short-term interest rate ratio is currently 5.6 days. Approximately 5.0% of the company’s shares are sold short.

Shares of ATSG opened at $28.34 on Friday. Air Transport Services Group has a 1-year low of $21.42 and a 1-year high of $34.54. The stock has a market capitalization of $2.11 billion, a PE ratio of 10.42 and a beta of 0.54. The company has a debt ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.89. The company has a fifty-day moving average price of $30.27 and a 200-day moving average price of $29.73.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last announced its quarterly results on Thursday, May 5. The transportation company reported earnings per share of $0.56 for the quarter, beating consensus analyst estimates of $0.45 by $0.11. Air Transport Services Group achieved a net margin of 12.96% and a return on equity of 13.30%. The company posted revenue of $485.86 million in the quarter, compared to $474.93 million expected by analysts. During the same period of the previous year, the company made earnings per share of $0.19. Airline Services Group quarterly revenue increased 29.2% compared to the same quarter last year. As a group, stock analysts expect Air Transport Services Group to post EPS of 2.05 for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its stake in Air Transport Services Group by 4.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 17,135 shares of the transportation company valued at $503,000 after purchasing an additional 771 shares during the period. We Are One Seven LLC increased its stake in Air Transport Services Group by 3.6% in the fourth quarter. We Are One Seven LLC now owns 22,038 shares of the transportation company valued at $647,000 after purchasing an additional 774 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Air Transport Services Group in the first quarter worth $45,000. Mercer Global Advisors Inc. ADV increased its stake in Air Transport Services Group by 17.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 10,088 shares of the transportation company valued at $337,000 after purchasing an additional 1,496 shares during the period. Finally, Rinkey Investments acquired a new position in Air Transport Services Group in the fourth quarter worth $42,000. Institutional investors hold 93.34% of the company’s shares.

Several equity research analysts have recently released reports on the stock. StockNews.com moved shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 18. Cowen raised its price target on shares of Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research report. Finally, Cowen raised its price target on shares of Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research report.

Airline Services Group Company Profile (Get an evaluation)

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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