Lonestar Capital Management Lowers stake in Air Transport Services Group (ATSG)

Air Transport Services Group (ATSG) : Lonestar Capital Management reduced its stake in Air Transport Services Group by 14.29% during the most recent quarter end. The investment management company now holds a total of 300,000 shares of Air Transport Services Group which is valued at $4,275,000 after selling 50,000 shares in Air Transport Services Group , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Air Transport Services Group makes up approximately 4.70% of Lonestar Capital Management’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in ATSG by selling 7,705 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 270,271 shares of ATSG which is valued at $3,851,362. Air Transport Services Group makes up approx 0.02% of Panagora Asset Management Inc’s portfolio.Lord Abbett boosted its stake in ATSG in the latest quarter, The investment management firm added 58,918 additional shares and now holds a total of 378,246 shares of Air Transport Services Group which is valued at $5,390,006. Air Transport Services Group makes up approx 0.02% of Lord Abbett’s portfolio. Hsbc Holdings Plc sold out all of its stake in ATSG during the most recent quarter. The investment firm sold 10,115 shares of ATSG which is valued $144,139. Bayesian Capital Management Lp sold out all of its stake in ATSG during the most recent quarter. The investment firm sold 12,470 shares of ATSG which is valued $177,698. Carroll Financial Associates added ATSG to its portfolio by purchasing 180 company shares during the most recent quarter which is valued at $2,504.

Air Transport Services Group opened for trading at $14.53 and hit $14.67 on the upside on Thursday, eventually ending the session at $14.55, with a gain of 0.48% or 0.07 points. The heightened volatility saw the trading volume jump to 2,69,008 shares. Company has a market cap of $868 M.

On the company’s financial health, Air Transport Services Group reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.12. The company had revenue of $176.50 million for the quarter, compared to analysts expectations of $172.87 million. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Air Transport Services Group. Air Transport Services Group was Initiated by Stifel to “Hold” on Aug 26, 2016.

Air Transport Services Group Inc. (ATSG) is a holding company. Through its subsidiaries the Company provides aircraft leasing airline operations aircraft maintenance and other support services to the air cargo transportation and package delivery industries. The Company offers a range of services to delivery companies freight forwarders airlines and Government customers. ATSG’s leasing subsidiary Cargo Aircraft Management Inc. which leases cargo aircraft to ATSG’s airlines and to external customers. Airborne Global Solutions Inc. that assists its businesses in marketing plans and provides sales leads to its subsidiaries by identifying customers’ business and operational requirements. Its other business operations including aircraft maintenance and modification services aircraft part sales equipment leasing and maintenance and mail handling for the United States Postal Service. Its principal subsidiaries include ABX Air Inc. and Air Transport International Inc.

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