FIL Ltd Buys Shares of 1,417,000 Air Transport Services Group, Inc. (NASDAQ:ATSG)

FIL Ltd purchased a new position in Air Transport Services Group, Inc. (NASDAQ:ATSG) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,417,000 shares of the transportation company’s stock, valued at approximately $31,146,000.

Several other large investors have also recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new position in Air Transport Services Group in the 4th quarter valued at $33,000. AlphaQuest LLC raised its position in shares of Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after buying an additional 1,246 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Air Transport Services Group in the fourth quarter worth about $99,000. Meeder Asset Management Inc. boosted its position in Air Transport Services Group by 29.4% during the fourth quarter. Meeder Asset Management Inc. now owns 8,724 shares of the transportation company’s stock worth $192,000 after acquiring an additional 1,980 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Air Transport Services Group during the 4th quarter valued at about $204,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Air Transport Services Group in a research note on Sunday, April 6th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Price Performance

Air Transport Services Group stock opened at $22.48 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $22.33 and a 200 day moving average price of $20.97. Air Transport Services Group, Inc. has a 12-month low of $11.69 and a 12-month high of $22.49. The stock has a market cap of $1.48 billion, a P/E ratio of -561.86 and a beta of 0.89.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $521.36 million. Sell-side analysts anticipate that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current year.

About Air Transport Services Group

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.