174,540 Shares in Air Transport Services Group, Inc. (NASDAQ:ATSG) Acquired by Castleark Management LLC

Castleark Management LLC acquired a new stake in Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 174,540 shares of the transportation company's stock, valued at approximately $2,826,000. Castleark Management LLC owned about 0.27% of Air Transport Services Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Air Transport Services Group in the second quarter worth about $34,000. Meeder Asset Management Inc. purchased a new position in Air Transport Services Group in the 2nd quarter valued at approximately $45,000. CWM LLC raised its holdings in Air Transport Services Group by 144.4% during the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company's stock valued at $58,000 after acquiring an additional 2,480 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Air Transport Services Group during the second quarter worth $58,000. Finally, Blue Trust Inc. boosted its holdings 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 acquiring an additional 4,528 shares during the period. 91.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ATSG shares. Stifel Nicolaus boosted their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 12th. StockNews.com began coverage on shares of Air Transport Services Group in a report on Saturday. They issued a "hold" rating on the stock. 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 note on Tuesday, November 5th. Finally, Loop Capital reiterated a "hold" rating and issued a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.60.

Air Transport Services Group Price Performance

Shares of ATSG traded down $0.02 during trading hours on Friday, reaching $21.98. 625,328 shares of the company's stock traded hands, compared to its average volume of 1,019,200. The stock has a market cap of $1.45 billion, a PE ratio of -549.50 and a beta of 0.85. Air Transport Services Group, Inc. has a 12 month low of $11.62 and a 12 month high of $22.27. 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 simple moving average is $19.07 and its 200-day simple moving average is $16.17.

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