Quint O. Turner Sells 3,500 Shares of Air Transport Services Group Inc. (ATSG) Stock

Air Transport Services Group Inc. (NASDAQ:ATSG) CFO Quint O. Turner sold 3,500 shares of the business’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $22.64, for a total transaction of $79,240.00. Following the transaction, the chief financial officer now directly owns 243,874 shares in the company, valued at $5,521,307.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NASDAQ:ATSG opened at $22.10 on Thursday. The stock has a market capitalization of $1,338.77, a PE ratio of 25.11 and a beta of 1.82. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Air Transport Services Group Inc. has a 1-year low of $16.26 and a 1-year high of $27.67.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Tuesday, February 27th. The transportation company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $322.97 million for the quarter, compared to the consensus estimate of $270.16 million. Air Transport Services Group had a net margin of 1.73% and a return on equity of 18.48%. analysts forecast that Air Transport Services Group Inc. will post 1.24 EPS for the current fiscal year.



Air Transport Services Group announced that its board has authorized a share buyback program on Tuesday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages have issued reports on ATSG. BidaskClub downgraded shares of Air Transport Services Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Susquehanna Bancshares set a $27.00 price objective on shares of Air Transport Services Group and gave the company a “hold” rating in a research report on Friday, March 2nd. Stephens reissued a “buy” rating and set a $32.00 price objective on shares of Air Transport Services Group in a research report on Wednesday, January 10th. ValuEngine downgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Zacks Investment Research downgraded shares of Air Transport Services Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.14.

Several large investors have recently added to or reduced their stakes in ATSG. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Air Transport Services Group by 73.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,799 shares of the transportation company’s stock worth $181,000 after buying an additional 3,295 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Air Transport Services Group in the 4th quarter worth about $253,000. SG Americas Securities LLC purchased a new stake in shares of Air Transport Services Group in the 3rd quarter worth about $258,000. Prudential Financial Inc. purchased a new stake in shares of Air Transport Services Group in the 3rd quarter worth about $262,000. Finally, Jefferies Group LLC purchased a new stake in shares of Air Transport Services Group in the 4th quarter worth about $283,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Insider Buying and Selling by Quarter for Air Transport Services Group (NASDAQ:ATSG)

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