Alliancebernstein L.P. raised its position in Air Transport Services Group Inc. (NASDAQ:ATSG) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,040 shares of the transportation company’s stock after acquiring an additional 22,140 shares during the quarter. Alliancebernstein L.P.’s holdings in Air Transport Services Group were worth $18,467,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Air Transport Services Group by 19.6% in the third quarter. Legal & General Group Plc now owns 14,779 shares of the transportation company’s stock valued at $363,000 after acquiring an additional 2,426 shares during the period. Rhumbline Advisers increased its position in shares of Air Transport Services Group by 5.7% in the third quarter. Rhumbline Advisers now owns 64,527 shares of the transportation company’s stock valued at $1,571,000 after acquiring an additional 3,494 shares during the period. First Trust Advisors LP increased its position in shares of Air Transport Services Group by 5.4% in the fourth quarter. First Trust Advisors LP now owns 117,563 shares of the transportation company’s stock valued at $2,720,000 after acquiring an additional 5,997 shares during the period. Axiom International Investors LLC DE increased its position in shares of Air Transport Services Group by 1.5% in the third quarter. Axiom International Investors LLC DE now owns 428,692 shares of the transportation company’s stock valued at $10,434,000 after acquiring an additional 6,343 shares during the period. Finally, American International Group Inc. increased its position in shares of Air Transport Services Group by 20.4% in the third quarter. American International Group Inc. now owns 38,868 shares of the transportation company’s stock valued at $946,000 after acquiring an additional 6,586 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.

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In related news, COO Richard Francis Corrado sold 11,639 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $24.81, for a total transaction of $288,763.59. Following the sale, the chief operating officer now owns 103,374 shares of the company’s stock, valued at $2,564,708.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Quint O. Turner sold 4,900 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $23.34, for a total transaction of $114,366.00. Following the sale, the chief financial officer now directly owns 242,673 shares in the company, valued at approximately $5,663,987.82. The disclosure for this sale can be found here. Insiders have sold 46,539 shares of company stock worth $1,144,480 in the last three months. 2.20% of the stock is currently owned by insiders.

Shares of Air Transport Services Group stock opened at $24.61 on Thursday. The firm has a market cap of $1,473.24, a PE ratio of -111.86 and a beta of 1.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 1.00. Air Transport Services Group Inc. has a 52 week low of $15.34 and a 52 week high of $27.67.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Tuesday, February 27th. The transportation company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $322.97 million for the quarter, compared to analyst estimates of $270.16 million. Air Transport Services Group had a net margin of 1.73% and a return on equity of 18.48%. sell-side analysts forecast that Air Transport Services Group Inc. will post 1.24 earnings per share for the current fiscal year.

Air Transport Services Group announced that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of brokerages have recently weighed in on ATSG. Zacks Investment Research lowered shares of Air Transport Services Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 5th. Susquehanna Bancshares set a $27.00 target price on shares of Air Transport Services Group and gave the company a “hold” rating in a research note on Friday, March 2nd. TheStreet raised shares of Air Transport Services Group from a “c” rating to a “b” rating in a research note on Wednesday, February 28th. ValuEngine raised shares of Air Transport Services Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Imperial Capital reaffirmed an “in-line” rating and set a $26.00 target price (up previously from $23.00) on shares of Air Transport Services Group in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $27.14.

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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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