American Century Companies Inc. Grows Stock Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Posted by Defense World Staff on Sep 1st, 2023

American Century Companies Inc. increased its position in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG – Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 930,648 shares of the transportation company’s stock after buying an additional 121,567 shares during the quarter. American Century Companies Inc. owned about 1.30% of Air Transport Services Group worth $19,125,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. raised its position in shares of Air Transport Services Group by 374.9% during the 4th quarter. Harbour Investments Inc. now owns 1,249 shares of the transportation company’s stock valued at $32,000 after buying an additional 986 shares during the period. Lazard Asset Management LLC raised its position in shares of Air Transport Services Group by 1,147.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,372 shares of the transportation company’s stock valued at $35,000 after buying an additional 1,262 shares during the period. Tower Research Capital LLC TRC raised its position in Air Transport Services Group by 141.2% in the first quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 980 shares during the period. Raymond James Trust N.A. purchased a new stake in Air Transport Services Group in the first quarter valued at approximately $216,000. Finally, Quantamental Technologies LLC purchased a new stake in Air Transport Services Group in the first quarter valued at approximately $233,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Stock Performance

NASDAQ:ATSG opened at $21.56 on Friday. The company has a fifty day simple moving average of $20.46 and a two-hundred day simple moving average of $20.06. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.85 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.89 and a debt-to-equity ratio of 1.05. Air Transport Services Group, Inc. has a 52 week low of $14.39 and a 52 week high of $30.97.

Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. The business had revenue of $529.34 million during the quarter, compared to the consensus estimate of $514.56 million. Air Transport Services Group had a net margin of 7.30% and a return on equity of 12.10%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts anticipate that Air Transport Services Group, Inc. will post 1.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on ATSG

Insiders Place Their Bets

In related news, major shareholder Amazon Com Inc sold 1,177,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the completion of the transaction, the insider now owns 12,741,445 shares in the company, valued at $248,458,177.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Air Transport Services Group Company Profile

(Free Report)

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.