PNC Financial Services Group Inc. Sells 12,422 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

PNC Financial Services Group Inc. cut its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG - Free Report) by 58.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in shares of Air Transport Services Group during the 4th quarter valued at $33,000. Peoples Bank OH bought a new position in shares of Air Transport Services Group during the 4th quarter worth about $216,000. Cetera Trust Company N.A grew its stake in shares of Air Transport Services Group by 6.6% in the 4th quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company's stock valued at $256,000 after buying an additional 725 shares during the period. Intech Investment Management LLC bought a new stake in Air Transport Services Group in the 3rd quarter valued at about $197,000. Finally, Entropy Technologies LP acquired a new position in Air Transport Services Group during the 4th quarter worth approximately $286,000. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Air Transport Services Group in a report on Friday. They issued a "hold" rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.60.

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Air Transport Services Group Stock Performance

Shares of Air Transport Services Group stock traded up $0.01 during mid-day trading on Tuesday, hitting $22.35. 54,735 shares of the stock were exchanged, compared to its average volume of 743,049. The company has a market capitalization of $1.47 billion, a P/E ratio of -558.49 and a beta of 0.79. 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 50-day simple moving average of $22.26 and a 200 day simple moving average of $20.30. Air Transport Services Group, Inc. has a 12 month low of $11.69 and a 12 month high of $22.38.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $521.36 million. Sell-side analysts anticipate that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current fiscal year.

Air Transport Services Group 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.