Air Transport Services Group Inc. (NASDAQ:ATSG) Insider W Joseph Payne Sells 5,000 Shares

Air Transport Services Group Inc. (NASDAQ:ATSG) insider W Joseph Payne sold 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $23.06, for a total transaction of $115,300.00. Following the transaction, the insider now directly owns 160,881 shares of the company’s stock, valued at $3,709,915.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Air Transport Services Group stock traded down $0.13 during trading hours on Wednesday, reaching $23.50. The stock had a trading volume of 824 shares, compared to its average volume of 425,678. The firm has a market cap of $1.39 billion, a PE ratio of 18.88 and a beta of 0.93. Air Transport Services Group Inc. has a 52 week low of $17.06 and a 52 week high of $25.82. The company has a quick ratio of 0.85, a current ratio of 0.99 and a debt-to-equity ratio of 3.60.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $348.18 million for the quarter, compared to analyst estimates of $306.01 million. Air Transport Services Group had a net margin of 7.33% and a return on equity of 20.87%. As a group, sell-side analysts expect that Air Transport Services Group Inc. will post 1.32 earnings per share for the current fiscal year.

ATSG has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. BidaskClub downgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. ValuEngine downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Imperial Capital restated an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Air Transport Services Group in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus set a $26.00 price objective on shares of Air Transport Services Group and gave the company a “buy” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Air Transport Services Group currently has an average rating of “Buy” and a consensus target price of $28.17.

Institutional investors have recently made changes to their positions in the business. Equitable Trust Co. boosted its stake in shares of Air Transport Services Group by 6.6% during the 1st quarter. Equitable Trust Co. now owns 62,227 shares of the transportation company’s stock valued at $1,434,000 after purchasing an additional 3,855 shares in the last quarter. Man Group plc bought a new stake in shares of Air Transport Services Group during the 1st quarter valued at about $2,575,000. Arrowgrass Capital Partners US LP boosted its stake in shares of Air Transport Services Group by 23.9% during the 1st quarter. Arrowgrass Capital Partners US LP now owns 190,978 shares of the transportation company’s stock valued at $4,402,000 after purchasing an additional 36,800 shares in the last quarter. Ellington Management Group LLC bought a new stake in shares of Air Transport Services Group during the 1st quarter valued at about $279,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Air Transport Services Group during the 1st quarter valued at about $202,000. 90.52% of the stock is currently owned by institutional investors and hedge funds.

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Air Transport Services Group Company Profile

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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