Truist Financial Corp acquires 13,443 shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)


Truist Financial Corp increased its holdings of Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) stock by 187.3% during the first quarter, HoldingsChannel reports. The fund held 20,620 shares of the transportation company after buying an additional 13,443 shares during the quarter. Truist Financial Corp’s holdings in Air Transport Services Group were worth $689,000 when it last filed with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also bought and sold shares of ATSG. Peoples Bank OH bought a new position in shares of Air Transport Services Group in the fourth quarter worth $274,000. Allspring Global Investments Holdings LLC bought a new position in Air Transport Services Group in the fourth quarter worth $140,000. Emerald Advisers LLC bought a new position in Air Transport Services Group in the fourth quarter worth $143,000. Bernzott Capital Advisors increased its stake in Air Transport Services Group by 6.4% in the fourth quarter. Bernzott Capital Advisors now owns 1,258,661 shares of the transportation company valued at $36,979,000 after acquiring 75,616 additional shares in the last quarter. Finally, AHL Investment Management Inc. bought a new position in Air Transport Services Group in the fourth quarter worth $852,000. Institutional investors hold 93.34% of the company’s shares.

Performance of shares in the Air transport services group

NASDAQ ATSG opened at $29.31 on Monday. The company has a 50-day simple moving average of $29.53 and a two-hundred-day simple moving average of $29.70. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt ratio of 0.94. Air Transport Services Group, Inc. has a 12-month low of $22.39 and a 12-month high of $34.54. The company has a market capitalization of $2.18 billion, a price-earnings ratio of 10.78 and a beta of 0.54.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its results on Thursday, May 5. The transportation company reported earnings per share of $0.56 for the quarter, beating analysts’ consensus estimate of $0.45 by $0.11. The company posted revenue of $485.86 million in the quarter, compared to analyst estimates of $474.93 million. Air Transport Services Group achieved a net margin of 12.96% and a return on equity of 13.30%. Airline Services Group revenue for the quarter increased 29.2% on an annual basis. In the same period a year earlier, the company posted earnings of $0.19 per share. On average, stock analysts expect Air Transport Services Group, Inc. to post EPS of 2.04 for the current year.

Analysts set new price targets

A number of research companies have recently commented on the ATSG. Cowen raised his target price on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note. Cowen raised his target price on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note. Finally, StockNews.com downgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a Saturday, June 18 research report.

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 insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and aircraft line maintenance.

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



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