In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Air Transport Services Group Inc. (NASDAQ:ATSG) reported that Red Mountain Capital has picked up 6,703,438 of common stock as of 2017-06-02.
The acquisition brings the aggregate amount owned by Red Mountain Capital to a total of 6,703,438 representing less than 11.3% stake in the company.
For those not familiar with the company, Air Transport Services Group, Inc. (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations. Its segments include ACMI Services and CAM. Through its subsidiaries, it offers a range of complementary services to delivery companies, freight forwarders, airlines and government customers. Its leasing subsidiary, Cargo Aircraft Management, Inc. (CAM) leases cargo aircraft to its airlines, as well as to non-affiliated airlines and other lessees. Airborne Global Solutions, Inc. (AGS) is its subsidiary that assists the Company’s businesses in marketing plans and provides sales leads to its subsidiaries by identifying customers’ business and operational requirements. It owns two airlines, ABX Air, Inc. (ABX) and Air Transport International, Inc. (ATI).
A glance at Air Transport Services Group Inc. (NASDAQ:ATSG)’s key stats reveals a current market capitalization of 1.39 Billion based on 59.53 Million shares outstanding and a price at last close of $23.48 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2012-11-14, Hete picked up 2,000 at a purchase price of $3.60. This brings their total holding to 700,522 as of the date of the filing.
On the sell side, the most recent transaction saw Corrado unload 5,000 shares at a sale price of $23.06. This brings their total holding to 107,839.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Air Transport Services Group Inc. (NASDAQ:ATSG) as things move forward to see if its progress aligns with these transactions.
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