Empowered Funds LLC Acquires 29,104 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Empowered Funds LLC lifted its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,423 shares of the transportation company’s stock after purchasing an additional 29,104 shares during the quarter. Empowered Funds LLC’s holdings in Air Transport Services Group were worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Air Transport Services Group during the 2nd quarter valued at about $34,000. Meeder Asset Management Inc. purchased a new stake in shares of Air Transport Services Group in the 2nd quarter worth $45,000. CWM LLC increased its position 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 worth $58,000 after buying an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Air Transport Services Group during the 2nd quarter worth approximately $58,000. Finally, Innealta Capital LLC bought a new stake in shares of Air Transport Services Group during the 2nd quarter valued at $73,000. 91.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ATSG has been the topic of a number of research analyst reports. Loop Capital reiterated a “hold” rating and issued a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. StockNews.com assumed coverage on Air Transport Services Group in a report on Wednesday, November 13th. They issued a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on shares of Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Stock Performance

Shares of ATSG stock opened at $22.02 on Monday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -550.50 and a beta of 0.81. The company’s 50 day moving average is $17.07 and its 200 day moving average is $15.37. The company has a quick ratio of 0.62, 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 $22.27.

Air Transport Services Group (NASDAQ:ATSG) last announced 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). The company had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, sell-side analysts anticipate that Air Transport Services Group, Inc. will post 0.84 EPS for the current fiscal year.

Air Transport Services Group 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.