Insider Buying: Air Transport Services Group Inc. (ATSG) Insider Acquires $117,306.00 in Stock

Air Transport Services Group Inc. (NASDAQ:ATSG) insider Jeffrey C. Crippen purchased 5,700 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average cost of $20.58 per share, with a total value of $117,306.00. Following the purchase, the insider now directly owns 36,700 shares of the company’s stock, valued at approximately $755,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ATSG opened at $21.16 on Monday. Air Transport Services Group Inc. has a twelve month low of $17.06 and a twelve month high of $25.82. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 3.14. The firm has a market cap of $1.26 billion, a PE ratio of 16.93 and a beta of 0.96.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Wednesday, February 27th. The transportation company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Air Transport Services Group had a net margin of 7.76% and a return on equity of 20.19%. The company had revenue of $280.78 million during the quarter, compared to analysts’ expectations of $228.42 million. During the same period in the prior year, the company posted $0.30 earnings per share. Air Transport Services Group’s revenue for the quarter was down 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Air Transport Services Group Inc. will post 1.3 earnings per share for the current fiscal year.

Several research firms have recently weighed in on ATSG. Zacks Investment Research cut shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. BidaskClub cut shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Susquehanna Bancshares upgraded shares of Air Transport Services Group from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $21.00 to $30.00 in a research report on Friday, February 8th. Imperial Capital increased their price objective on shares of Air Transport Services Group from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. Finally, Seaport Global Securities set a $30.00 price objective on shares of Air Transport Services Group and gave the stock a “buy” rating in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Air Transport Services Group has a consensus rating of “Hold” and a consensus price target of $27.83.

Several institutional investors and hedge funds have recently bought and sold shares of ATSG. Commonwealth Equity Services LLC acquired a new stake in Air Transport Services Group in the third quarter worth $1,242,000. Dimensional Fund Advisors LP grew its holdings in Air Transport Services Group by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,392,686 shares of the transportation company’s stock worth $72,838,000 after purchasing an additional 17,960 shares during the period. Baird Financial Group Inc. grew its holdings in Air Transport Services Group by 3.2% in the third quarter. Baird Financial Group Inc. now owns 299,166 shares of the transportation company’s stock worth $6,226,000 after purchasing an additional 9,391 shares during the period. United Services Automobile Association grew its holdings in Air Transport Services Group by 2.2% in the third quarter. United Services Automobile Association now owns 275,932 shares of the transportation company’s stock worth $5,924,000 after purchasing an additional 6,022 shares during the period. Finally, Royce & Associates LP grew its holdings in Air Transport Services Group by 11.6% in the third quarter. Royce & Associates LP now owns 163,000 shares of the transportation company’s stock worth $3,500,000 after purchasing an additional 17,000 shares during the period. Institutional investors own 89.18% of the company’s stock.

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About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

See Also: Balance Sheet

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