Air Transport Services Group, Inc. (NASDAQ: ATSG) was the target of a significant increase in short-term interest in July. As of July 15, there was overdraft interest totaling 2,030,000 shares, an increase of 17.3% from the total of 1,730,000 shares as of June 30. Based on an average daily trading volume of 509,300 shares, the day-to-coverage ratio is currently 4.0 days. Currently, 3.5% of the company’s shares are sold short.
In other news, director Joseph C. Hete sold 10,000 shares in a transaction dated Tuesday, June 1. The stock was sold for an average price of $ 25.00, for a total value of $ 250,000.00. Following the completion of the sale, the director now owns 480,086 shares of the company, valued at $ 12,002,150. The transaction was disclosed in a legal file with the SEC, which is available through this link. 2.00% of the shares are currently owned by insiders of the company.
A number of large investors have recently increased or reduced their stakes in the company. We Are One Seven LLC purchased a new position in Air Transport Services Group during the 2nd quarter for a value of approximately $ 327,000. Amazon com Inc increased its stake in Air Transport Services Group by 1,567.0% during the 2nd quarter. Amazon com Inc now owns 14,428,445 shares of the shipping company worth $ 335,173,000 after purchasing an additional 13,562,897 shares in the last quarter. Emerald Advisers LLC purchased a new position in Air Transport Services Group during the second quarter for a value of approximately $ 128,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Air Transport Services Group shares in the second quarter for a value of approximately $ 73,000. Finally, TCW Group Inc. increased its stake in Air Transport Services Group shares by 26.9% in the second quarter. TCW Group Inc. now owns 455,346 shares of the transportation company valued at $ 10,578,000 after purchasing an additional 96,400 shares in the last quarter. 76.55% of the shares are currently held by institutional investors.
A number of brokerage firms have weighed on ATSG. Stifel Nicolaus began covering Air Transport Services Group in a research note on Monday, June 21. They set a “buy” rating and a price target of $ 32.43 for the company. Zacks Investment Research downgraded the airline services group from a “conservation” rating to a “strong sell” rating and set a price target of $ 23.00 for the company. in a research note on Wednesday April 28. One analyst rated the stock with a sell rating and three gave the stock a buy rating. The stock currently has a consensus rating of “Buy” and an average target price of $ 30.86.
NASDAQ: ATSG opened at $ 24.22 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt ratio of 1.66. The company’s 50-day moving average price is $ 23.57. Air Transport Services Group has a 52-week low of $ 21.42 and a 52-week high of $ 32.43. The company has a market cap of $ 1.80 billion, a P / E ratio of 16.35 and a beta of 0.58.
Air Transport Services Group (NASDAQ: ATSG) last released its results on Thursday, May 6. The transportation company reported EPS of $ 0.19 for the quarter, missing analyst consensus estimates of $ 0.26 per ($ 0.07). Air Transport Services Group recorded a positive return on equity of 14.62% and a negative net margin of 4.05%. The company posted revenue of $ 376.09 million for the quarter, compared to a consensus estimate of $ 379.50 million. Analysts expect Air Transport Services Group to post earnings per share of 1.63 for the current fiscal year.
Airline Services Group Company Profile
Air Transport Services Group, Inc., through its subsidiaries, engages in aircraft rental and air cargo transportation services in the United States and internationally. It offers contract flight operations, aircraft modification and maintenance services, ground services and other support services.
Further Reading: How Do Analysts Define an Oversold Condition?
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