StockNews.com Downgrades Airline Services Group (NASDAQ:ATSG) to Maintain

Air Transport Services Group (NASDAQ:ATSG – Get a Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report released on Friday.

ATSG stock traded at $1.08 during Friday’s trading, hitting $29.22. The company had a trading volume of 594,704 shares, compared to an average volume of 305,992. Air Transport Services Group has a 52-week low of $21.42 and a 52-week high of $31.48. The company has a market capitalization of $2.17 billion, a P/E ratio of 13.65 and a beta of 0.59. The company has a 50-day moving average of $27.74 and a 200-day moving average of $26.90. The company has a debt ratio of 1.16, a current ratio of 1.09 and a quick ratio of 0.92.

In other Air Transport Services Group news, insider David R. Soaper purchased 40,000 shares of the company in a trade on Tuesday, November 30. The shares were acquired at an average price of $24.96 per share, with a total value of $998,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, Vice President Deborah A. Loveless sold 3,453 shares of the company in a trade that took place on Thursday, December 16. The shares were sold at an average price of $28.27, for a total transaction of $97,616.31. The disclosure of this sale can be found here. 2.00% of the shares are held by insiders.

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Several hedge funds and other institutional investors have recently changed their positions in the company. River Road Asset Management LLC increased its stake in shares of 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 valued at $244,835,000 after purchasing an additional 750,442 shares last quarter. Vanguard Group Inc. increased its stake in shares of Air Transport Services Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 5,367,356 shares of the transportation company valued at $124,684,000 after buying an additional 97,794 shares last quarter. BlackRock Inc. increased its holdings of Air Transport Services Group shares by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,023,611 shares of the transportation company valued at $118,213,000 after buying an additional 75,298 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of Air Transport Services Group shares by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,553,187 shares of the transportation company valued at $75,010,000 after buying an additional 59,975 shares in the last quarter. Finally, State Street Corp increased its holdings of Air Transport Services Group shares by 4.9% during the second quarter. State Street Corp now owns 1,619,824 shares of the transportation company valued at $37,629,000 after buying an additional 75,355 shares in the last quarter. 93.67% of the shares are held by institutional investors and hedge funds.

Airline Services Group Company Profile (Get a rating)

Air Transport Services Group, Inc engages in the provision of flight operations, aircraft rentals, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It operates through CAM and ACMI Services segments. The CAM segment includes the company’s aircraft leasing business.

Further reading

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