Envestnet Asset Management Inc. trimmed its position in shares of Air Transport Services Group Inc. (NASDAQ:ATSG) by 46.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,671 shares of the transportation company’s stock after selling 5,755 shares during the period. Envestnet Asset Management Inc.’s holdings in Air Transport Services Group were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Air Transport Services Group during the 2nd quarter worth approximately $226,000. SG Americas Securities LLC purchased a new stake in shares of Air Transport Services Group during the 1st quarter worth approximately $147,000. Amalgamated Bank purchased a new stake in shares of Air Transport Services Group during the 2nd quarter worth approximately $202,000. Engineers Gate Manager LP purchased a new stake in shares of Air Transport Services Group during the 2nd quarter worth approximately $206,000. Finally, Pitcairn Co. purchased a new stake in shares of Air Transport Services Group during the 1st quarter worth approximately $274,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the company. Cowen decreased their price objective on Air Transport Services Group from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, August 8th. Susquehanna Bancshares set a $23.00 price objective on Air Transport Services Group and gave the stock a “hold” rating in a report on Wednesday, August 8th. BidaskClub raised Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. ValuEngine cut Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research cut Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $26.17.

NASDAQ ATSG opened at $20.79 on Wednesday. The company has a market cap of $1.30 billion, a PE ratio of 23.10 and a beta of 1.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.06. Air Transport Services Group Inc. has a fifty-two week low of $19.17 and a fifty-two week high of $27.67.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Monday, August 6th. The transportation company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The firm had revenue of $203.61 million for the quarter, compared to the consensus estimate of $208.24 million. Air Transport Services Group had a return on equity of 20.53% and a net margin of 10.44%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. equities analysts expect that Air Transport Services Group Inc. will post 1.34 earnings per share for the current year.

About Air Transport Services Group

Air Transport Services Group, Inc engages in the provision of airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It operates through three segments: ACMI Services, Ground Services and CAM. The ACMI Services segment includes the cargo transportation operations of its three airlines.

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

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