Connor Clark & Lunn Investment Management Ltd. Buys 49,846 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Posted by on Aug 23rd, 2023

Connor Clark & Lunn Investment Management Ltd. raised its stake in Air Transport Services Group, Inc. (NASDAQ:ATSG – Free Report) by 523.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,374 shares of the transportation company’s stock after buying an additional 49,846 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Air Transport Services Group worth $1,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Air Transport Services Group by 19.2% in the first quarter. Vanguard Group Inc. now owns 6,379,988 shares of the transportation company’s stock worth $213,411,000 after purchasing an additional 1,029,325 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Air Transport Services Group by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,636,293 shares of the transportation company’s stock worth $94,473,000 after purchasing an additional 266,062 shares in the last quarter. Norges Bank bought a new stake in shares of Air Transport Services Group in the fourth quarter worth $5,561,000. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Air Transport Services Group in the first quarter worth $3,539,000. Finally, American Century Companies Inc. lifted its position in shares of Air Transport Services Group by 24.7% in the fourth quarter. American Century Companies Inc. now owns 809,081 shares of the transportation company’s stock worth $21,020,000 after purchasing an additional 160,264 shares in the last quarter. Institutional investors own 91.57% of the company’s stock.

Air Transport Services Group Price Performance

NASDAQ:ATSG opened at $21.25 on Wednesday. Air Transport Services Group, Inc. has a one year low of $14.39 and a one year high of $32.15. The company has a market cap of $1.50 billion, a P/E ratio of 11.68 and a beta of 0.81. The firm’s fifty day moving average price is $20.14 and its two-hundred day moving average price is $20.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.89 and a quick ratio of 0.75.

Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20. Air Transport Services Group had a net margin of 7.30% and a return on equity of 12.10%. The firm had revenue of $529.34 million for the quarter, compared to the consensus estimate of $514.56 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Air Transport Services Group, Inc. will post 1.79 earnings per share for the current year.

Insider Activity at Air Transport Services Group

In related news, major shareholder Amazon Com Inc sold 1,177,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the transaction, the insider now directly owns 12,741,445 shares in the company, valued at $248,458,177.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com started coverage on shares of Air Transport Services Group in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial boosted their target price on shares of Air Transport Services Group from $17.00 to $21.00 and gave the stock a “hold” rating in a report on Monday, August 7th. TD Cowen boosted their target price on shares of Air Transport Services Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Loop Capital boosted their target price on shares of Air Transport Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, Susquehanna boosted their target price on shares of Air Transport Services Group from $18.00 to $26.00 and gave the stock a “positive” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Air Transport Services Group presently has an average rating of “Moderate Buy” and an average target price of $25.60.

Check Out Our Latest Report on ATSG

About Air Transport Services Group

(Free Report)

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.

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Institutional Ownership by Quarter for Air Transport Services Group (NASDAQ:ATSG)

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