Short Interest in Air Transport Services Group, Inc. (NASDAQ:ATSG) Drops By 9.6%

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 3,770,000 shares, a decrease of 9.6% from the March 31st total of 4,170,000 shares. Based on an average daily trading volume, of 634,800 shares, the days-to-cover ratio is currently 5.9 days. Currently, 7.4% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna cut their price objective on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Truist Financial reduced their price objective on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Finally, StockNews.com lowered Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.33.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Air Transport Services Group by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,339,788 shares of the transportation company’s stock valued at $132,311,000 after purchasing an additional 103,496 shares during the period. Dimensional Fund Advisors LP raised its holdings in Air Transport Services Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,013,004 shares of the transportation company’s stock worth $70,669,000 after purchasing an additional 175,076 shares during the period. Victory Capital Management Inc. lifted its position in shares of Air Transport Services Group by 4,734.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,197,508 shares of the transportation company’s stock valued at $38,698,000 after buying an additional 2,152,052 shares in the last quarter. U S Global Investors Inc. boosted its position in shares of Air Transport Services Group by 1.2% in the first quarter. U S Global Investors Inc. now owns 2,005,710 shares of the transportation company’s stock worth $27,599,000 after purchasing an additional 23,356 shares during the period. Finally, FMR LLC raised its holdings in Air Transport Services Group by 2.6% during the third quarter. FMR LLC now owns 1,829,208 shares of the transportation company’s stock valued at $38,176,000 after acquiring an additional 46,428 shares during the period. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

Air Transport Services Group Stock Down 0.3 %

NASDAQ:ATSG traded down $0.04 during mid-day trading on Monday, hitting $12.87. 49,514 shares of the company’s stock were exchanged, compared to its average volume of 616,770. Air Transport Services Group has a one year low of $11.62 and a one year high of $24.96. The business has a fifty day moving average price of $12.93 and a 200 day moving average price of $15.37. The company has a market cap of $845.30 million, a PE ratio of 17.21 and a beta of 0.85. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.74.

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