IndexIQ Advisors LLC makes new $404,000 investment in Air Transport Services Group, Inc. (NASDAQ:ATSG)


IndexIQ Advisors LLC bought a new position in Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) during Q1, according to its latest filing with the Securities & Exchange Commission. The company bought 12,072 shares of the transportation company, valued at around $404,000.

Other hedge funds have also recently been buying and selling shares of the company. Rinkey Investments acquired a new stake in Air Transport Services Group in the fourth quarter worth $42,000. Allspring Global Investments Holdings LLC acquired a new stake in Air Transport Services Group in the fourth quarter valued at $140,000. Aldebaran Financial Inc. acquired a new stake in Air Transport Services Group in the fourth quarter valued at $207,000. Harbor Advisors LLC acquired a new stake in Air Transport Services Group in the fourth quarter valued at $212,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Air Transport Services Group in the fourth quarter valued at $244,000. 93.34% of the shares are currently held by institutional investors and hedge funds.

Changes to analyst ratings

A number of equity research analysts have recently commented on the stock. StockNews.com downgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a Saturday, June 18 report. Cowen raised its price target on shares of Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 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 shares down 4.8%

Shares of Air Transport Services Group opened at $31.40 on Monday. The company has a market capitalization of $2.34 billion, a P/E ratio of 12.08 and a beta of 0.56. Air Transport Services Group, Inc. has a 1-year minimum of $23.68 and a 1-year maximum of $34.54. The company has a fifty-day simple moving average of $29.87 and a 200-day simple moving average of $30.00. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt ratio of 0.94.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its results on Thursday, August 4. The transportation company reported earnings per share of $0.59 for the quarter, beating consensus analyst estimates of $0.50 by $0.09. The company had revenue of $510.00 million in the quarter, versus a consensus estimate of $505.54 million. Air Transport Services Group posted a net margin of 11.01% and a return on equity of 14.74%. The company’s revenue for the quarter increased by 24.4% compared to the same quarter last year. In the same quarter last year, the company earned $0.35 per share. Research analysts expect Air Transport Services Group, Inc. to post earnings per share of 2.04 for the current fiscal year.

Airline Services Group Company Profile

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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.

Further reading

Institutional ownership by quarter for Air Transport Services Group (NASDAQ:ATSG)



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