Pier Capital LLC Sells 82,384 Shares of Air Transport Services Group, Inc (ATSG)

Pier Capital LLC trimmed its holdings in shares of Air Transport Services Group, Inc (NASDAQ:ATSG) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,553 shares of the transportation company’s stock after selling 82,384 shares during the period. Pier Capital LLC owned about 0.40% of Air Transport Services Group worth $5,709,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ATSG. Advisor Group Inc. increased its stake in shares of Air Transport Services Group by 21.4% during the 2nd quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock worth $150,000 after purchasing an additional 1,217 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Air Transport Services Group during the 2nd quarter worth approximately $168,000. First Mercantile Trust Co. purchased a new position in shares of Air Transport Services Group during the 2nd quarter worth approximately $169,000. SG Americas Securities LLC purchased a new position in shares of Air Transport Services Group during the 3rd quarter worth approximately $258,000. Finally, Prudential Financial Inc. purchased a new stake in Air Transport Services Group in the 3rd quarter worth approximately $262,000. 90.47% of the stock is owned by institutional investors and hedge funds.

In other news, Director Joseph Edward Roux sold 10,012 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $23.61, for a total transaction of $236,383.32. Following the completion of the sale, the director now directly owns 27,862 shares of the company’s stock, valued at approximately $657,821.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W Joseph Payne sold 7,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $24.20, for a total transaction of $181,500.00. Following the sale, the insider now directly owns 177,952 shares of the company’s stock, valued at $4,306,438.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Several research firms have commented on ATSG. ValuEngine cut shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research note on Friday. Susquehanna Bancshares began coverage on shares of Air Transport Services Group in a research note on Thursday, August 17th. They issued a “neutral” rating and a $22.00 target price for the company. BidaskClub cut shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price on shares of Air Transport Services Group in a research note on Tuesday, September 12th. Finally, TheStreet cut shares of Air Transport Services Group from a “b+” rating to a “c+” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Air Transport Services Group has an average rating of “Hold” and an average target price of $24.86.

Shares of Air Transport Services Group, Inc (ATSG) opened at $24.60 on Tuesday. The company has a market cap of $1,436.05, a P/E ratio of 30.75 and a beta of 1.96. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 1.62. Air Transport Services Group, Inc has a 12 month low of $14.97 and a 12 month high of $26.75.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings data on Monday, November 6th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Air Transport Services Group had a negative net margin of 7.77% and a positive return on equity of 16.62%. The company had revenue of $254.10 million during the quarter, compared to analysts’ expectations of $256.13 million. During the same period in the previous year, the company earned $0.14 EPS. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. equities analysts anticipate that Air Transport Services Group, Inc will post 0.86 earnings per share for the current fiscal year.

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About Air Transport Services Group

Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.

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

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