Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 0.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 288,966 shares of the transportation company’s stock after selling 1,003 shares during the period. Peregrine Capital Management LLC owned approximately 0.44% of Air Transport Services Group worth $4,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATSG. Gladius Capital Management LP purchased a new stake in Air Transport Services Group during the 2nd quarter worth approximately $34,000. CWM LLC increased its holdings in shares of Air Transport Services Group by 53.9% during the fourth quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 767 shares during the period. Innealta Capital LLC acquired a new position in shares of Air Transport Services Group during the second quarter valued at $73,000. Covestor Ltd boosted its stake in Air Transport Services Group by 59.0% during the first quarter. Covestor Ltd now owns 8,234 shares of the transportation company’s stock valued at $113,000 after buying an additional 3,054 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Air Transport Services Group during the first quarter valued at about $157,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Price Performance

Shares of NASDAQ:ATSG opened at $16.86 on Friday. Air Transport Services Group, Inc. has a 1-year low of $11.62 and a 1-year high of $22.17. The firm has a market capitalization of $1.11 billion, a PE ratio of 26.76 and a beta of 0.84. The business’s 50 day moving average is $15.02 and its 200-day moving average is $13.84. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 1.20.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $488.41 million during the quarter, compared to the consensus estimate of $513.67 million. Air Transport Services Group had a return on equity of 6.61% and a net margin of 2.37%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. Sell-side analysts predict that Air Transport Services Group, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

ATSG has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Air Transport Services Group from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, August 12th. StockNews.com raised Air Transport Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Susquehanna raised their price target on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Stifel Nicolaus raised their price target on Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, TD Cowen raised their price objective on Air Transport Services Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

About Air Transport Services Group

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, 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.