ExodusPoint Capital Management LP Sells 11,932 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Posted by Defense World Staff on Jun 8th, 2023

ExodusPoint Capital Management LP decreased its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,359 shares of the transportation company’s stock after selling 11,932 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.15% of Air Transport Services Group worth $2,919,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Air Transport Services Group by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 331,441 shares of the transportation company’s stock worth $11,087,000 after buying an additional 9,681 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Air Transport Services Group by 714.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,706 shares of the transportation company’s stock worth $391,000 after acquiring an additional 10,268 shares during the period. Bank of Montreal Can increased its position in Air Transport Services Group by 41.3% during the first quarter. Bank of Montreal Can now owns 161,108 shares of the transportation company’s stock worth $5,497,000 after acquiring an additional 47,129 shares during the period. MetLife Investment Management LLC increased its position in Air Transport Services Group by 56.5% during the first quarter. MetLife Investment Management LLC now owns 32,199 shares of the transportation company’s stock worth $1,077,000 after acquiring an additional 11,631 shares during the period. Finally, APG Asset Management N.V. bought a new position in Air Transport Services Group during the first quarter worth about $385,000. Institutional investors and hedge funds own 95.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATSG. TheStreet lowered shares of Air Transport Services Group from a “b-” rating to a “c+” rating in a research report on Friday, March 24th. StockNews.com initiated coverage on shares of Air Transport Services Group in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Stifel Nicolaus decreased their price target on shares of Air Transport Services Group from $27.00 to $26.00 in a report on Monday, May 8th. Susquehanna cut their target price on shares of Air Transport Services Group from $25.00 to $18.00 in a research report on Tuesday, May 9th. Finally, Truist Financial cut their target price on shares of Air Transport Services Group from $22.00 to $17.00 in a research report on Monday, May 8th.

Insider Buying and Selling

In related news, Director Jeffrey J. Vorholt purchased 1,250 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average cost of $20.80 per share, with a total value of $26,000.00. Following the acquisition, the director now owns 33,700 shares of the company’s stock, valued at $700,960. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey J. Vorholt purchased 1,250 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average cost of $20.80 per share, with a total value of $26,000.00. Following the acquisition, the director now owns 33,700 shares of the company’s stock, valued at $700,960. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond E. Johns, Jr. purchased 2,200 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average cost of $16.49 per share, for a total transaction of $36,278.00. Following the completion of the acquisition, the director now directly owns 23,543 shares in the company, valued at approximately $388,224.07. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 11,075 shares of company stock valued at $200,340. 1.70% of the stock is owned by insiders.

Air Transport Services Group Stock Performance

NASDAQ:ATSG opened at $18.57 on Thursday. The company has a fifty day moving average of $18.60 and a 200-day moving average of $22.91. The firm has a market capitalization of $1.33 billion, a P/E ratio of 9.52 and a beta of 0.77. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.09. Air Transport Services Group, Inc. has a twelve month low of $14.39 and a twelve month high of $34.00.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The transportation company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The business had revenue of $501.10 million for the quarter, compared to the consensus estimate of $510.80 million. Air Transport Services Group had a net margin of 8.20% and a return on equity of 12.66%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. As a group, sell-side analysts anticipate that Air Transport Services Group, Inc. will post 1.61 EPS for the current year.

Air Transport Services Group Company Profile

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Air Transport Services Group, Inc engages in the provision of airline operations, aircraft leases, aircraft maintenance, and other support services primarily to the cargo transportation and package delivery industries. It operates through the CAM and ACMI Services segments. The CAM segment consists of the company’s aircraft leasing operations.