Air Transport Services Group, Inc. (NASDAQ:ATSG) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 64.3% during the 3rd quarter, Holdings Channel reports. The fund owned 23,835 shares of the transportation company’s stock after selling 42,926 shares during the quarter. BNP Paribas Financial Markets’ holdings in Air Transport Services Group were worth $386,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Air Transport Services Group in the second quarter valued at $45,000. CWM LLC raised its stake in Air Transport Services Group by 144.4% in 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 in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Air Transport Services Group in the second quarter valued at $58,000. Blue Trust Inc. raised its stake in Air Transport Services Group by 1,320.1% in the third quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after buying an additional 4,528 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Air Transport Services Group in the second quarter valued at $73,000. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Air Transport Services Group Stock Performance

NASDAQ ATSG opened at $21.90 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. Air Transport Services Group, Inc. has a 52-week low of $11.62 and a 52-week high of $22.33. The business’s 50-day moving average price is $19.73 and its 200 day moving average price is $16.46. The firm has a market cap of $1.44 billion, a P/E ratio of -547.36 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $507.46 million. During the same period in the prior year, the business earned $0.32 EPS. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts expect that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

ATSG has been the topic of a number of analyst reports. StockNews.com initiated coverage on Air Transport Services Group in a research note on Sunday. They issued a “hold” rating on the stock. Loop Capital reaffirmed a “hold” rating and set a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Finally, Truist Financial raised their price objective on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Air Transport Services Group currently has a consensus rating of “Hold” and an average target price of $20.60.

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.