Alberta Investment Management Corp Makes New Investment in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Alberta Investment Management Corp purchased a new position in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 500,000 shares of the transportation company’s stock, valued at approximately $10,990,000.

Several other institutional investors also recently modified their holdings of the company. River Road Asset Management LLC increased its stake in shares of Air Transport Services Group by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company’s stock worth $116,085,000 after purchasing an additional 201,722 shares during the last quarter. State Street Corp grew its stake in Air Transport Services Group by 1.1% in the 3rd quarter. State Street Corp now owns 1,258,673 shares of the transportation company’s stock valued at $20,378,000 after buying an additional 13,880 shares during the last quarter. Empowered Funds LLC grew its stake in Air Transport Services Group by 11.1% in the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after buying an additional 29,104 shares during the last quarter. Phocas Financial Corp. grew its stake in Air Transport Services Group by 49.4% in the 3rd quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock valued at $3,611,000 after buying an additional 73,752 shares during the last quarter. Finally, FMR LLC grew its stake in Air Transport Services Group by 74.9% in the 3rd quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock valued at $3,460,000 after buying an additional 91,521 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATSG. Truist Financial boosted their price objective on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Air Transport Services Group in a report on Monday. They issued a “hold” rating for the company. Finally, Loop Capital reissued a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Price Performance

Shares of NASDAQ:ATSG opened at $22.32 on Thursday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -557.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $22.10 and a 200 day simple moving average of $19.17. Air Transport Services Group, Inc. has a one year low of $11.62 and a one year high of $22.34.

Air Transport Services Group Profile

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.