Air Transport Services Group Sees Unusually Large Options Volume (ATSG)
Air Transport Services Group, Inc (NASDAQ:ATSG) saw some unusual options trading activity on Wednesday. Traders bought 541 call options on the company. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.
In other Air Transport Services Group news, Director Richard M. Baudouin sold 8,100 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $21.71, for a total value of $175,851.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider W Joseph Payne sold 7,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $24.20, for a total transaction of $181,500.00. Following the completion of the transaction, the insider now directly owns 177,952 shares in the company, valued at approximately $4,306,438.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Hodges Capital Management Inc. lifted its position in shares of Air Transport Services Group by 36.5% during the third quarter. Hodges Capital Management Inc. now owns 908,615 shares of the transportation company’s stock worth $22,116,000 after purchasing an additional 243,022 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Air Transport Services Group in the third quarter valued at approximately $262,000. Tygh Capital Management Inc. raised its holdings in Air Transport Services Group by 68.9% in the third quarter. Tygh Capital Management Inc. now owns 260,819 shares of the transportation company’s stock valued at $6,348,000 after acquiring an additional 106,427 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Air Transport Services Group in the third quarter valued at approximately $8,770,000. Finally, Emerald Advisers Inc. PA acquired a new stake in Air Transport Services Group in the third quarter valued at approximately $10,783,000. 88.11% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on ATSG. TheStreet cut shares of Air Transport Services Group from a “b+” rating to a “c+” rating in a research report on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and issued a $27.00 target price (up previously from $25.00) on shares of Air Transport Services Group in a research report on Thursday, August 10th. BidaskClub raised shares of Air Transport Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price on shares of Air Transport Services Group in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Air Transport Services Group currently has a consensus rating of “Hold” and an average price target of $23.13.
Shares of Air Transport Services Group (NASDAQ ATSG) opened at $24.49 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of 34.15 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 1.82.
Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Monday, August 7th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $253.21 million for the quarter, compared to analysts’ expectations of $235.69 million. Air Transport Services Group had a negative net margin of 4.42% and a positive return on equity of 14.27%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. research analysts anticipate that Air Transport Services Group 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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