Begins Coverage on Air T (NASDAQ:AIRT) initiated coverage on shares of Air T (NASDAQ:AIRTGet Rating) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the transportation company’s stock.

Separately, TheStreet lowered shares of Air T from a “c” rating to a “d+” rating in a report on Wednesday, February 16th.

NASDAQ:AIRT opened at $17.20 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 5.04 and a debt-to-equity ratio of 4.95. Air T has a fifty-two week low of $16.56 and a fifty-two week high of $43.05. The stock has a market cap of $49.48 million, a PE ratio of 57.34 and a beta of 1.32. The firm’s fifty day simple moving average is $20.91 and its 200-day simple moving average is $24.40.

Air T (NASDAQ:AIRTGet Rating) last issued its quarterly earnings data on Monday, February 14th. The transportation company reported ($0.44) EPS for the quarter. Air T had a net margin of 0.56% and a return on equity of 5.24%. The business had revenue of $45.43 million during the quarter.

In related news, CEO Nicholas John Swenson purchased 1,100 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was purchased at an average cost of $24.72 per share, for a total transaction of $27,192.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 4,445 shares of company stock valued at $112,515. 62.95% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in AIRT. Morgan Stanley raised its stake in shares of Air T by 433.1% in the 3rd quarter. Morgan Stanley now owns 19,950 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 16,208 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Air T by 27.0% in the 3rd quarter. Geode Capital Management LLC now owns 12,835 shares of the transportation company’s stock worth $354,000 after acquiring an additional 2,729 shares during the period. Finally, Millennium Management LLC acquired a new stake in Air T in the 3rd quarter valued at about $208,000. Institutional investors own 10.92% of the company’s stock.

About Air T (Get Rating)

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, commercial jet engines and parts, and printing equipment and maintenance services in the United States and internationally. The company's Overnight Air Cargo segment offers air express delivery services. As of March 31, 2021, this segment had 66 aircraft under the dry-lease agreements with FedEx.

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