Alpine Associates Management Inc. Acquires New Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Alpine Associates Management Inc. acquired a new stake in Air Transport Services Group, Inc. (NASDAQ:ATSG) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,427,510 shares of the transportation company’s stock, valued at approximately $31,377,000. Air Transport Services Group accounts for 1.9% of Alpine Associates Management Inc.’s holdings, making the stock its 15th largest holding.

A number of other hedge funds have also recently modified their holdings of ATSG. Alberta Investment Management Corp purchased a new position in Air Transport Services Group during the fourth quarter worth about $10,990,000. Versor Investments LP purchased a new position in Air Transport Services Group during the fourth quarter worth about $6,760,000. Raymond James Financial Inc. acquired a new stake in shares of Air Transport Services Group during the fourth quarter worth about $5,356,000. New York Life Investment Management LLC acquired a new stake in shares of Air Transport Services Group during the fourth quarter worth about $5,305,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Air Transport Services Group during the third quarter worth about $3,411,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Air Transport Services Group in a research report on Wednesday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Price Performance

Shares of ATSG opened at $22.29 on Friday. The company’s 50-day simple moving average is $22.19 and its 200-day simple moving average is $19.76. The stock has a market capitalization of $1.47 billion, a PE ratio of -557.11 and a beta of 0.79. Air Transport Services Group, Inc. has a 1 year low of $11.62 and a 1 year high of $22.38. 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 (NASDAQ:ATSG) last issued its earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $521.36 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. Analysts forecast that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current fiscal year.

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.