Peregrine Capital Management LLC Acquires Shares of 307,458 Air Transport Services Group, Inc. (NASDAQ:ATSG)

Peregrine Capital Management LLC bought a new stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 307,458 shares of the transportation company’s stock, valued at approximately $5,414,000. Peregrine Capital Management LLC owned approximately 0.47% of Air Transport Services Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATSG. Vanguard Group Inc. raised its holdings in shares of Air Transport Services Group by 19.2% during the first quarter. Vanguard Group Inc. now owns 6,379,988 shares of the transportation company’s stock valued at $213,411,000 after acquiring an additional 1,029,325 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Air Transport Services Group by 38.4% during the fourth quarter. U S Global Investors Inc. now owns 1,982,354 shares of the transportation company’s stock valued at $34,909,000 after acquiring an additional 550,229 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Air Transport Services Group by 281.2% during the second quarter. Marshall Wace LLP now owns 404,746 shares of the transportation company’s stock valued at $7,638,000 after acquiring an additional 298,558 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Air Transport Services Group by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,771,809 shares of the transportation company’s stock valued at $92,718,000 after acquiring an additional 218,622 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Air Transport Services Group during the fourth quarter valued at approximately $5,561,000. Institutional investors own 91.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna decreased their target price on Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com downgraded Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, Truist Financial increased their price objective on Air Transport Services Group from $16.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Transport Services Group has a consensus rating of “Hold” and an average target price of $24.33.

Air Transport Services Group Price Performance

ATSG opened at $12.96 on Thursday. The stock has a fifty day simple moving average of $13.38 and a two-hundred day simple moving average of $16.11. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The company has a market cap of $851.24 million, a price-to-earnings ratio of 17.28 and a beta of 0.85. Air Transport Services Group, Inc. has a 12-month low of $11.62 and a 12-month high of $24.96.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Monday, February 26th. The transportation company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The company had revenue of $517.04 million during the quarter, compared to analysts’ expectations of $521.04 million. Research analysts predict that Air Transport Services Group, Inc. will post 0.73 earnings per share for the current fiscal year.

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.