Bank of New York Mellon Corp Reduces Stock Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Bank of New York Mellon Corp reduced its position in Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) by 33.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,104 shares of the transportation company's stock after selling 76,701 shares during the quarter. Bank of New York Mellon Corp owned about 0.23% of Air Transport Services Group worth $3,365,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ATSG. Independence Bank of Kentucky acquired a new stake in shares of Air Transport Services Group in the fourth quarter valued at approximately $33,000. Meeder Asset Management Inc. lifted its holdings in shares of Air Transport Services Group by 106.0% during the third quarter. Meeder Asset Management Inc. now owns 6,744 shares of the transportation company's stock worth $109,000 after purchasing an additional 3,471 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Air Transport Services Group during the third quarter worth $197,000. Peoples Bank OH acquired a new stake in shares of Air Transport Services Group during the fourth quarter worth $216,000. Finally, Cetera Trust Company N.A lifted its holdings in shares of Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company's stock worth $256,000 after purchasing an additional 725 shares during the period. 91.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Air Transport Services Group in a report on Friday. They set a "hold" rating for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.60.

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Air Transport Services Group Price Performance

Air Transport Services Group stock traded up $0.01 during midday trading on Friday, reaching $22.33. The company's stock had a trading volume of 947,336 shares, compared to its average volume of 743,909. Air Transport Services Group, Inc. has a fifty-two week low of $11.69 and a fifty-two week high of $22.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. The stock's 50 day simple moving average is $22.25 and its 200 day simple moving average is $20.22. The firm has a market capitalization of $1.47 billion, a PE ratio of -558.11 and a beta of 0.79.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last released its earnings results on Monday, March 3rd. The transportation company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $521.36 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. On average, equities research analysts forecast that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current year.

Air Transport Services Group Company 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.