William R. Foudray Buys 1,250 Shares of Air T, Inc. (NASDAQ:AIRT) Stock

Air T, Inc. (NASDAQ:AIRT) Director William R. Foudray purchased 1,250 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.00 per share, with a total value of $22,500.00. Following the purchase, the director now directly owns 12,500 shares in the company, valued at $225,000. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Air T Stock Up 7.8 %

AIRT traded up $1.62 during mid-day trading on Thursday, reaching $22.35. 31,439 shares of the stock were exchanged, compared to its average volume of 19,559. The company has a 50 day moving average price of $17.46 and a two-hundred day moving average price of $21.19. The company has a debt-to-equity ratio of 13.44, a quick ratio of 1.14 and a current ratio of 2.27. The stock has a market capitalization of $61.69 million, a PE ratio of -25.62 and a beta of 0.75. Air T, Inc. has a 1 year low of $12.53 and a 1 year high of $30.60.

Hedge Funds Weigh In On Air T

A hedge fund recently raised its stake in Air T stock. Renaissance Technologies LLC raised its holdings in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,511 shares of the transportation company’s stock after purchasing an additional 1,600 shares during the quarter. Renaissance Technologies LLC owned approximately 4.29% of Air T worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission. 8.90% of the stock is currently owned by institutional investors and hedge funds.

About Air T

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, and commercial jet engines and parts in the United States and internationally. The Overnight Air Cargo segment offers air express delivery services. As of March 31, 2023, this segment had 85 aircraft under the dry-lease agreements with FedEx.