IPG Investment Advisors LLC Sells 1,231,422 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

IPG Investment Advisors LLC decreased its stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 82.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 259,302 shares of the transportation company’s stock after selling 1,231,422 shares during the period. Air Transport Services Group makes up 1.3% of IPG Investment Advisors LLC’s holdings, making the stock its 22nd biggest holding. IPG Investment Advisors LLC’s holdings in Air Transport Services Group were worth $5,699,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new position in shares of Air Transport Services Group during the fourth quarter worth approximately $33,000. AlphaQuest LLC increased its holdings in shares of Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 1,246 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Air Transport Services Group in the 4th quarter worth approximately $99,000. Intech Investment Management LLC acquired a new position in Air Transport Services Group during the 3rd quarter worth $197,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in Air Transport Services Group in the 4th quarter valued at $204,000. Institutional investors own 91.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Air Transport Services Group in a research report on Saturday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

Shares of ATSG stock opened at $22.43 on Friday. The firm’s 50 day moving average price is $22.28 and its two-hundred day moving average price is $20.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. Air Transport Services Group, Inc. has a 52-week low of $11.69 and a 52-week high of $22.45. The stock has a market cap of $1.48 billion, a PE ratio of -560.61 and a beta of 0.79.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $521.36 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. As a group, analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

Air Transport Services Group Company 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.