Picton Mahoney Asset Management Purchases New Shares in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Picton Mahoney Asset Management bought a new stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 275,000 shares of the transportation company's stock, valued at approximately $6,045,000. Picton Mahoney Asset Management owned 0.42% of Air Transport Services Group as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ATSG. Alpine Associates Management Inc. bought a new stake in shares of Air Transport Services Group in the 4th quarter worth approximately $31,377,000. State Street Corp lifted its position in shares of Air Transport Services Group by 1.1% in the 3rd quarter. State Street Corp now owns 1,258,673 shares of the transportation company's stock worth $20,378,000 after acquiring an additional 13,880 shares during the period. Alberta Investment Management Corp bought a new stake in shares of Air Transport Services Group in the 4th quarter worth approximately $10,990,000. Versor Investments LP bought a new stake in shares of Air Transport Services Group in the 4th quarter worth approximately $6,760,000. Finally, Empowered Funds LLC lifted its position in shares of Air Transport Services Group by 11.1% in the 3rd 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 period. Institutional investors own 91.81% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Air Transport Services Group in a research report on Thursday, March 13th. They issued 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.60.

Remove Ads

Air Transport Services Group Price Performance

Shares of ATSG traded down $0.03 during mid-day trading on Thursday, reaching $22.32. The company had a trading volume of 522,350 shares, compared to its average volume of 740,195. Air Transport Services Group, Inc. has a twelve month low of $11.69 and a twelve month high of $22.38. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The company's 50-day moving average is $22.24 and its 200-day moving average is $20.12. The company has a market capitalization of $1.47 billion, a P/E ratio of -557.86 and a beta of 0.79.

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