Short Interest in Air Transport Services Group Inc. (NASDAQ:ATSG) Increases By 16.1%

Air Transport Services Group Inc. (NASDAQ:ATSG) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,310,000 shares, a growth of 16.1% from the June 30th total of 1,990,000 shares. Based on an average daily trading volume, of 553,800 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.0% of the shares of the company are short sold.

Several brokerages recently issued reports on ATSG. BidaskClub upgraded shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 8th. Zacks Investment Research lowered shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Friday, June 26th. ValuEngine downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Monday, June 1st. SunTrust Banks lifted their price target on shares of Air Transport Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, TheStreet raised shares of Air Transport Services Group from a “c+” rating to a “b-” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.88.

Shares of NASDAQ:ATSG opened at $24.37 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.21 and a quick ratio of 1.04. Air Transport Services Group has a 1-year low of $13.20 and a 1-year high of $25.60. The company has a market capitalization of $1.45 billion, a P/E ratio of -1,218.50 and a beta of 0.86. The firm’s 50 day simple moving average is $22.75 and its two-hundred day simple moving average is $20.71.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Tuesday, May 5th. The transportation company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Air Transport Services Group had a net margin of 11.79% and a return on equity of 22.63%. The firm had revenue of $389.30 million for the quarter, compared to the consensus estimate of $367.25 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Air Transport Services Group will post 1.45 earnings per share for the current fiscal year.

In related news, Director Jeffrey J. Vorholt sold 3,728 shares of the business’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $21.80, for a total transaction of $81,270.40. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $436,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Air Transport Services Group by 224.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,590 shares of the transportation company’s stock worth $29,000 after buying an additional 1,100 shares in the last quarter. Weaver Consulting Group purchased a new position in shares of Air Transport Services Group in the first quarter worth $37,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Air Transport Services Group by 103.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,021 shares of the transportation company’s stock worth $45,000 after buying an additional 1,027 shares in the last quarter. Arden Trust Co purchased a new position in shares of Air Transport Services Group in the first quarter worth $52,000. Finally, Sowell Financial Services LLC lifted its holdings in shares of Air Transport Services Group by 2,839.5% in the first quarter. Sowell Financial Services LLC now owns 5,438 shares of the transportation company’s stock worth $99,000 after buying an additional 5,253 shares in the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.

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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