Harbor Capital Advisors Inc. Invests $46,000 in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Posted by Defense World Staff on Sep 23rd, 2023

Harbor Capital Advisors Inc. purchased a new position in Air Transport Services Group, Inc. (NASDAQ:ATSG – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,444 shares of the transportation company’s stock, valued at approximately $46,000.

A number of other institutional investors have also recently made changes to their positions in ATSG. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,029,325 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Air Transport Services Group by 22.9% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,645,832 shares of the transportation company’s stock worth $55,113,000 after buying an additional 492,574 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Air Transport Services Group by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,771,809 shares of the transportation company’s stock worth $92,718,000 after buying an additional 218,622 shares during the last quarter. Norges Bank acquired a new position in Air Transport Services Group during the fourth quarter worth $5,561,000. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Air Transport Services Group by 26.3% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,004,155 shares of the transportation company’s stock worth $20,917,000 after buying an additional 209,133 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Stock Performance

Shares of Air Transport Services Group stock opened at $20.74 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.89 and a debt-to-equity ratio of 1.05. The firm has a market cap of $1.47 billion, a PE ratio of 11.40 and a beta of 0.81. Air Transport Services Group, Inc. has a 52 week low of $14.39 and a 52 week high of $29.55. The business’s fifty day simple moving average is $21.13 and its 200-day simple moving average is $19.80.

Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last posted its quarterly earnings data on Friday, August 4th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. The firm had revenue of $529.34 million for the quarter, compared to the consensus estimate of $514.56 million. Air Transport Services Group had a return on equity of 12.10% and a net margin of 7.30%. 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 business earned $0.59 EPS. Equities analysts forecast that Air Transport Services Group, Inc. will post 1.82 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 business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total value of $22,951,500.00. Following the sale, the insider now owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ATSG shares. Truist Financial boosted their price objective on Air Transport Services Group from $17.00 to $21.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Susquehanna boosted their price objective on Air Transport Services Group from $18.00 to $26.00 and gave the stock a “positive” rating in a research note on Wednesday, August 9th. TD Cowen boosted their price objective on Air Transport Services Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. StockNews.com started coverage on Air Transport Services Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Oppenheimer started coverage on Air Transport Services Group in a research note on Wednesday. They issued an “outperform” rating and a $27.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Check Out Our Latest Analysis on ATSG

Air Transport Services Group 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.