Bank of America Corp DE increased its stake in Air Transport Services Group, Inc (NASDAQ:ATSG) by 460.9% during the first quarter, Holdings Channel reports. The fund owned 147,865 shares of the transportation company’s stock after buying an additional 121,502 shares during the period. Bank of America Corp DE’s holdings in Air Transport Services Group were worth $2,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in shares of Air Transport Services Group by 0.4% in the first quarter. Nationwide Fund Advisors now owns 43,693 shares of the transportation company’s stock valued at $701,000 after buying an additional 189 shares in the last quarter. Victory Capital Management Inc. increased its stake in Air Transport Services Group by 18.2% in the first quarter. Victory Capital Management Inc. now owns 6,887 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,058 shares during the last quarter. SG Americas Securities LLC increased its stake in Air Transport Services Group by 17.1% in the first quarter. SG Americas Securities LLC now owns 11,196 shares of the transportation company’s stock valued at $180,000 after buying an additional 1,632 shares during the last quarter. LSV Asset Management increased its stake in Air Transport Services Group by 0.7% in the first quarter. LSV Asset Management now owns 382,000 shares of the transportation company’s stock valued at $6,131,000 after buying an additional 2,500 shares during the last quarter. Finally, UBS Group AG increased its stake in Air Transport Services Group by 5.7% in the first quarter. UBS Group AG now owns 81,481 shares of the transportation company’s stock valued at $1,307,000 after buying an additional 4,374 shares during the last quarter. 87.64% of the stock is owned by hedge funds and other institutional investors.

Air Transport Services Group, Inc (ATSG) traded down 1.75% during midday trading on Friday, hitting $22.52. The company had a trading volume of 112,643 shares. The stock’s market cap is $1.33 billion. Air Transport Services Group, Inc has a 52-week low of $12.94 and a 52-week high of $25.75. The stock’s 50-day moving average price is $23.31 and its 200-day moving average price is $19.87.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Monday, August 7th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $253.21 million during 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 revenue was up 43.4% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. On average, equities research analysts expect that Air Transport Services Group, Inc will post $0.89 EPS for the current fiscal year.

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Several research firms have weighed in on ATSG. BidaskClub downgraded Air Transport Services Group from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet cut Air Transport Services Group from a “b+” rating to a “c+” rating in a report on Monday. Cowen and Company reaffirmed an “outperform” rating and issued a $27.00 price target (up previously from $25.00) on shares of Air Transport Services Group in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price target on shares of Air Transport Services Group in a report on Friday, August 4th. Finally, Imperial Capital upped their price target on Air Transport Services Group from $18.00 to $23.00 and gave the stock an “in-line” rating in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $23.29.

In related news, CFO Quint O. Turner sold 8,048 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $23.08, for a total transaction of $185,747.84. Following the completion of the sale, the chief financial officer now directly owns 271,175 shares in the company, valued at $6,258,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew E. Fedders sold 4,102 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $22.24, for a total transaction of $91,228.48. Following the sale, the vice president now owns 24,842 shares of the company’s stock, valued at $552,486.08. The disclosure for this sale can be found here. Insiders have sold 4,414,480 shares of company stock valued at $99,000,315 over the last 90 days. 2.20% of the stock is currently owned by insiders.

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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