Comerica Bank Reduces Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Comerica Bank lessened its holdings in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 63.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,058 shares of the transportation company’s stock after selling 17,247 shares during the quarter. Comerica Bank’s holdings in Air Transport Services Group were worth $221,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ATSG. Dimensional Fund Advisors LP boosted its holdings in Air Transport Services Group by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,571,391 shares of the transportation company’s stock worth $78,500,000 after purchasing an additional 15,250 shares during the period. American Century Companies Inc. lifted its holdings in Air Transport Services Group by 3.3% in the fourth quarter. American Century Companies Inc. now owns 2,283,944 shares of the transportation company’s stock worth $50,201,000 after purchasing an additional 72,367 shares during the period. Alpine Associates Management Inc. acquired a new stake in Air Transport Services Group in the fourth quarter worth about $31,377,000. FIL Ltd acquired a new stake in Air Transport Services Group in the fourth quarter worth about $31,146,000. Finally, TIG Advisors LLC bought a new stake in Air Transport Services Group in the fourth quarter worth about $29,290,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Air Transport Services Group in a research report on Friday. They issued a “hold” rating on the stock.

Air Transport Services Group Price Performance

Shares of ATSG opened at $22.48 on Friday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -561.86 and a beta of 0.89. Air Transport Services Group, Inc. has a fifty-two week low of $11.69 and a fifty-two week high of $22.49. 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 business’s 50-day moving average is $22.44 and its 200-day moving average is $22.15.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Monday, March 3rd. The transportation company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $521.36 million. Equities research analysts expect that Air Transport Services Group, Inc. will post 0.83 EPS 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.