Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Up 24.2% in March


Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) benefited from a significant increase in short-term interest during the month of March. As of March 31, there was short interest totaling 1,950,000 shares, an increase of 24.2% from the March 15 total of 1,570,000 shares. Based on an average daily volume of 483,300 shares, the day-to-cover ratio is currently 4.0 days. Currently, 3.4% of the company’s shares are sold short.

NASDAQ:ATSG shares opened at $32.61 on Tuesday. The company has a market capitalization of $2.42 billion, a PE ratio of 12.35 and a beta of 0.52. The company has a debt ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.97. The company has a 50-day moving average of $30.62 and a two-hundred-day moving average of $28.20. Air Transport Services Group has a 12-month low of $21.42 and a 12-month high of $34.54.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released quarterly earnings data on Thursday, February 24. The transportation company reported earnings per share of $0.52 for the quarter. Air Transport Services Group achieved a return on equity of 11.57% and a net margin of 13.34%. The company had revenue of $482.37 million in the quarter. As a group, research analysts expect Air Transport Services Group to post earnings per share of 1.98 for the current year.

A number of research analysts have recently published reports on the company. Stephens raised its target price on Air Transport Services Group from $34.00 to $40.00 and gave the company an “overweight” rating in a Wednesday, March 2 report. Truist Financial raised its price target on Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 report. Finally, StockNews.com took over coverage of the airline services group in a Thursday, March 31 report. They have placed a “holding” rating on the stock. One analyst has assigned the stock a sell rating, one has assigned a hold rating and two have assigned the company’s stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.86.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 shares of the company in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $31.80, for a total value of $230,232.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Additionally, director Jeffrey J. Vorholt purchased 2,000 shares of the company in a transaction dated Friday, March 25. The stock was purchased at an average price of $32.94 per share, for a total transaction of $65,880.00. Disclosure of this purchase can be found here. 2.00% of the shares are held by insiders.

A number of hedge funds and other institutional investors have recently shifted their ATSG holdings. River Road Asset Management LLC increased its stake in Air Transport Services Group by 8.6% during the third quarter. River Road Asset Management LLC now owns 9,486,061 shares of the transportation company worth $244,835,000 after purchasing an additional 750,442 shares in the last quarter. Hillcrest Asset Management LLC purchased a new position in Air Transport Services Group during Q4 for a value of approximately $12,678,000. Arrowstreet Capital Limited Partnership purchased a new position in Air Transport Services Group during Q3 for a value of approximately $5,594,000. State Street Corp increased its stake in Air Transport Services Group by 12.3% during the fourth quarter. State Street Corp now owns 1,604,292 shares of the transportation company worth $47,134,000 after buying an additional 175,991 shares in the last quarter. Finally, Comerica Bank purchased a new position in Air Transport Services Group during Q3 for a value of approximately $3,820,000. Hedge funds and other institutional investors hold 93.67% of the company’s shares.

About Airline Services Group (Get a rating)

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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