Gabelli Funds LLC Sells 3,789,000 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Gabelli Funds LLC lessened its holdings in Air Transport Services Group, Inc. (NASDAQ:ATSG) by 97.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,000 shares of the transportation company’s stock after selling 3,789,000 shares during the quarter. Gabelli Funds LLC’s holdings in Air Transport Services Group were worth $2,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATSG. State Street Corp increased its holdings in shares of Air Transport Services Group by 1.1% during the third quarter. State Street Corp now owns 1,258,673 shares of the transportation company’s stock valued at $20,378,000 after acquiring an additional 13,880 shares in the last quarter. Barclays PLC increased its stake in Air Transport Services Group by 247.7% during the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock valued at $1,180,000 after purchasing an additional 51,955 shares in the last quarter. Franklin Resources Inc. raised its holdings in Air Transport Services Group by 31.2% in the third quarter. Franklin Resources Inc. now owns 26,645 shares of the transportation company’s stock worth $434,000 after buying an additional 6,334 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Air Transport Services Group by 4.1% in the fourth quarter. Oliver Luxxe Assets LLC now owns 121,965 shares of the transportation company’s stock worth $2,681,000 after buying an additional 4,849 shares in the last quarter. Finally, Cetera Trust Company N.A grew its holdings in shares of Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after buying an additional 725 shares during the last quarter. Institutional investors own 91.81% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Air Transport Services Group in a report on Monday, April 14th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Price Performance

ATSG opened at $22.48 on Friday. The company’s 50-day simple moving average is $22.36 and its two-hundred day simple moving average is $21.17. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. The stock has a market capitalization of $1.48 billion, a P/E ratio of -561.86 and a beta of 0.89. Air Transport Services Group, Inc. has a 52-week low of $11.69 and a 52-week high of $22.49.

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, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $521.36 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. As a group, analysts predict that Air Transport Services Group, Inc. will post 0.83 EPS 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.