Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Up 7.7% in June

Air Transport Services Group, Inc. (NASDAQ:ATSG) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,900,000 shares, a growth of 7.7% from the May 31st total of 3,620,000 shares. Currently, 7.7% of the shares of the company are short sold. Based on an average trading volume of 437,000 shares, the days-to-cover ratio is presently 8.9 days.

Air Transport Services Group Price Performance

NASDAQ ATSG traded up $0.39 during trading hours on Tuesday, reaching $14.12. The company’s stock had a trading volume of 553,363 shares, compared to its average volume of 563,033. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $24.96. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $927.97 million, a price-to-earnings ratio of 21.79 and a beta of 0.84. The firm’s 50-day moving average price is $13.39 and its 200-day moving average price is $14.12.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Monday, May 6th. The transportation company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.77 million. Air Transport Services Group had a net margin of 2.37% and a return on equity of 6.61%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts predict that Air Transport Services Group will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank bought a new position in shares of Air Transport Services Group during the 2nd quarter valued at approximately $412,000. Invenomic Capital Management LP bought a new position in Air Transport Services Group during the first quarter valued at $2,489,000. PAX Financial Group LLC bought a new position in Air Transport Services Group during the first quarter valued at $668,000. Covestor Ltd grew its stake in shares of Air Transport Services Group by 59.0% in the 1st quarter. Covestor Ltd now owns 8,234 shares of the transportation company’s stock worth $113,000 after buying an additional 3,054 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Air Transport Services Group by 82.3% in the 1st quarter. First Eagle Investment Management LLC now owns 487,930 shares of the transportation company’s stock worth $6,714,000 after buying an additional 220,300 shares during the last quarter. Institutional investors own 91.81% of the company’s stock.

Analyst Ratings Changes

ATSG has been the subject of a number of analyst reports. Truist Financial reduced their price target on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Susquehanna increased their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. StockNews.com raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, TD Cowen increased their price objective on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.83.

Air Transport Services Group Company 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.