Readystate Asset Management LP Sells 122,212 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Readystate Asset Management LP decreased its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) by 42.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,197 shares of the transportation company's stock after selling 122,212 shares during the quarter. Readystate Asset Management LP owned approximately 0.25% of Air Transport Services Group worth $2,675,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC boosted its stake in shares of Air Transport Services Group by 11.1% during the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company's stock worth $4,702,000 after buying an additional 29,104 shares during the last quarter. Marshall Wace LLP raised its holdings in Air Transport Services Group by 300.8% during the second quarter. Marshall Wace LLP now owns 253,425 shares of the transportation company's stock worth $3,515,000 after acquiring an additional 190,202 shares in the last quarter. Anchor Capital Management Company LLC boosted its position in Air Transport Services Group by 26.4% during the second quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company's stock valued at $15,534,000 after purchasing an additional 233,789 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Air Transport Services Group by 14.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company's stock valued at $41,120,000 after purchasing an additional 380,958 shares during the last quarter. Finally, Phocas Financial Corp. boosted its position in Air Transport Services Group by 49.4% during the third quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company's stock valued at $3,611,000 after purchasing an additional 73,752 shares during the last quarter. Institutional investors own 91.81% of the company's stock.

Wall Street Analyst Weigh In

ATSG has been the subject of several recent research reports. Stifel Nicolaus increased their price target on 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. StockNews.com initiated coverage on Air Transport Services Group in a research report on Friday, November 29th. They set a "hold" rating for the company. Loop Capital reissued a "hold" rating and set a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to 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

NASDAQ:ATSG traded down $0.03 on Thursday, hitting $22.10. The company's stock had a trading volume of 225,725 shares, compared to its average volume of 647,460. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. Air Transport Services Group, Inc. has a one year low of $11.62 and a one year high of $22.27. The stock has a fifty day moving average of $18.81 and a two-hundred day moving average of $16.06.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last announced its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. Air Transport Services Group's revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Research analysts expect that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

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.