Alpine Associates Management Inc. Acquires Shares of 1,427,510 Air Transport Services Group, Inc. (NASDAQ:ATSG)

Alpine Associates Management Inc. acquired a new position in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,427,510 shares of the transportation company's stock, valued at approximately $31,377,000. Air Transport Services Group accounts for about 1.9% of Alpine Associates Management Inc.'s portfolio, making the stock its 15th biggest position. Alpine Associates Management Inc. owned about 2.17% of Air Transport Services Group as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC raised its holdings in Air Transport Services Group by 247.7% during the third quarter. Barclays PLC now owns 72,934 shares of the transportation company's stock worth $1,180,000 after purchasing an additional 51,955 shares in the last quarter. Empowered Funds LLC raised its position in Air Transport Services Group by 11.1% during the third quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company's stock worth $4,702,000 after acquiring an additional 29,104 shares during the last quarter. FMR LLC raised its position in shares of Air Transport Services Group by 74.9% during the 3rd quarter. FMR LLC now owns 213,730 shares of the transportation company's stock worth $3,460,000 after purchasing an additional 91,521 shares during the last quarter. Systematic Financial Management LP purchased a new position in Air Transport Services Group during the third quarter worth $396,000. Finally, Phocas Financial Corp. raised its stake in Air Transport Services Group by 49.4% in the 3rd 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. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Air Transport Services Group Trading Up 0.0 %

Shares of NASDAQ:ATSG traded up $0.01 during midday trading on Thursday, reaching $22.32. The company had a trading volume of 427,206 shares, compared to its average volume of 946,061. The company has a fifty day simple moving average of $22.21 and a two-hundred day simple moving average of $19.93. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -557.86 and a beta of 0.79. Air Transport Services Group, Inc. has a 1-year low of $11.62 and a 1-year 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.

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