PNC Financial Services Group Inc. Reduces Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

PNC Financial Services Group Inc. cut its position in Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) by 58.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,848 shares of the transportation company's stock after selling 12,422 shares during the period. PNC Financial Services Group Inc.'s holdings in Air Transport Services Group were worth $194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp purchased a new position in 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 during the fourth quarter valued at approximately $6,760,000. Raymond James Financial Inc. purchased a new position in shares of Air Transport Services Group in the fourth quarter worth $5,356,000. New York Life Investment Management LLC bought a new position in shares of Air Transport Services Group during the fourth quarter worth $5,305,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Air Transport Services Group during the third quarter worth $3,411,000. 91.81% of the stock is currently owned by institutional investors.

Air Transport Services Group Price Performance

Shares of ATSG traded up $0.10 during mid-day trading on Thursday, hitting $22.44. 951,991 shares of the stock were exchanged, compared to its average volume of 745,613. 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 company has a market cap of $1.48 billion, a PE ratio of -560.86 and a beta of 0.79. Air Transport Services Group, Inc. has a 52-week low of $11.69 and a 52-week high of $22.45. The firm has a 50-day moving average of $22.26 and a two-hundred day moving average of $20.35.

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Air Transport Services Group in a report on Friday, March 21st. They issued a "hold" rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Transport Services Group presently has a consensus rating of "Hold" and an average price target of $20.60.

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.