Geode Capital Management LLC Lowers Holdings in Air Transport Services Group Inc. (ATSG)

Geode Capital Management LLC decreased its position in shares of Air Transport Services Group Inc. (NASDAQ:ATSG) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 488,718 shares of the transportation company’s stock after selling 6,092 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Air Transport Services Group worth $11,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Air Transport Services Group during the third quarter valued at about $258,000. Prudential Financial Inc. purchased a new stake in Air Transport Services Group during the third quarter valued at about $262,000. Legal & General Group Plc raised its position in Air Transport Services Group by 19.6% during the third quarter. Legal & General Group Plc now owns 14,779 shares of the transportation company’s stock valued at $363,000 after purchasing an additional 2,426 shares in the last quarter. American International Group Inc. raised its position in Air Transport Services Group by 20.4% during the third quarter. American International Group Inc. now owns 38,868 shares of the transportation company’s stock valued at $946,000 after purchasing an additional 6,586 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Air Transport Services Group during the third quarter valued at about $998,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

How to Become a New Pot Stock Millionaire

ATSG opened at $23.14 on Friday. The stock has a market capitalization of $1,406.30, a PE ratio of 25.71 and a beta of 1.82. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Air Transport Services Group Inc. has a 12 month low of $15.84 and a 12 month high of $27.67.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Tuesday, February 27th. The transportation company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. The firm had revenue of $322.97 million for the quarter, compared to the consensus estimate of $270.16 million. Air Transport Services Group had a return on equity of 18.48% and a net margin of 1.73%. analysts predict that Air Transport Services Group Inc. will post 1.24 earnings per share for the current year.

Air Transport Services Group announced that its board has initiated a stock buyback program on Tuesday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms have weighed in on ATSG. ValuEngine upgraded Air Transport Services Group from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded Air Transport Services Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 5th. Susquehanna Bancshares set a $27.00 price objective on Air Transport Services Group and gave the stock a “hold” rating in a report on Friday, March 2nd. TheStreet upgraded Air Transport Services Group from a “c” rating to a “b” rating in a report on Wednesday, February 28th. Finally, Imperial Capital reiterated an “in-line” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Air Transport Services Group in a report on Thursday, March 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Air Transport Services Group has a consensus rating of “Hold” and an average target price of $27.14.

In related news, insider W Joseph Payne sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $26.09, for a total value of $195,675.00. Following the sale, the insider now directly owns 155,060 shares of the company’s stock, valued at $4,045,515.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Quint O. Turner sold 4,900 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $23.34, for a total value of $114,366.00. Following the completion of the sale, the chief financial officer now directly owns 242,673 shares in the company, valued at $5,663,987.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,039 shares of company stock worth $969,205. Company insiders own 2.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This report was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/08/geode-capital-management-llc-lowers-holdings-in-air-transport-services-group-inc-atsg.html.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

Institutional Ownership by Quarter for Air Transport Services Group (NASDAQ:ATSG)

Receive News & Ratings for Air Transport Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Transport Services Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply