American Century Companies Inc. Buys 239,919 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

American Century Companies Inc. boosted its stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,864,063 shares of the transportation company’s stock after acquiring an additional 239,919 shares during the quarter. American Century Companies Inc. owned 2.84% of Air Transport Services Group worth $25,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ATSG. Gladius Capital Management LP purchased a new position in Air Transport Services Group during the 2nd quarter valued at about $34,000. TFO Wealth Partners LLC grew its position in shares of Air Transport Services Group by 64,275.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,575 shares of the transportation company’s stock worth $450,000 after buying an additional 2,571 shares during the last quarter. CWM LLC increased its stake in shares of Air Transport Services Group by 144.4% during the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock valued at $58,000 after buying an additional 2,480 shares during the period. Innealta Capital LLC bought a new position in shares of Air Transport Services Group during the second quarter valued at approximately $73,000. Finally, Covestor Ltd lifted its stake in Air Transport Services Group by 59.0% in the first quarter. Covestor Ltd now owns 8,234 shares of the transportation company’s stock worth $113,000 after acquiring an additional 3,054 shares during the period. 91.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ATSG shares. Stifel Nicolaus lifted their target price on shares of Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Air Transport Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Air Transport Services Group Price Performance

Shares of ATSG opened at $15.42 on Thursday. Air Transport Services Group, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $22.13. The firm’s 50-day simple moving average is $15.44 and its two-hundred day simple moving average is $14.00. The stock has a market cap of $1.01 billion, a PE ratio of 24.48 and a beta of 0.82. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.62 and a current ratio of 0.74.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Thursday, August 8th. The transportation company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Air Transport Services Group had a return on equity of 4.24% and a net margin of 0.90%. The firm had revenue of $488.41 million for the quarter, compared to analysts’ expectations of $513.67 million. During the same period in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts anticipate that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current fiscal year.

Air Transport Services Group Profile

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.