500,000 Shares in Air Transport Services Group, Inc. (NASDAQ:ATSG) Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 500,000 shares of the transportation company's stock, valued at approximately $10,990,000. Alberta Investment Management Corp owned approximately 0.76% of Air Transport Services Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATSG. Independence Bank of Kentucky purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of Air Transport Services Group by 1,320.1% in the third quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company's stock worth $79,000 after purchasing an additional 4,528 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Air Transport Services Group by 106.0% in the third quarter. Meeder Asset Management Inc. now owns 6,744 shares of the transportation company's stock worth $109,000 after buying an additional 3,471 shares during the period. Cetera Trust Company N.A lifted its holdings in Air Transport Services Group by 6.6% in the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company's stock worth $256,000 after buying an additional 725 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Air Transport Services Group during the third quarter valued at approximately $197,000. Hedge funds and other institutional investors own 91.81% of the company's stock.

Analysts Set New Price Targets

ATSG has been the subject of several recent research reports. StockNews.com began coverage on shares of Air Transport Services Group in a report on Monday. They set a "hold" rating for the company. Loop Capital reaffirmed a "hold" rating and issued a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.60.

Air Transport Services Group Price Performance

Air Transport Services Group stock traded up $0.01 during mid-day trading on Friday, hitting $22.31. The stock had a trading volume of 290,791 shares, compared to its average volume of 979,272. The firm has a market capitalization of $1.47 billion, a P/E ratio of -557.49 and a beta of 0.84. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm's 50 day moving average is $22.10 and its 200 day moving average is $19.19. Air Transport Services Group, Inc. has a one year low of $11.62 and a one year high of $22.35.

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.