ClariVest Asset Management LLC lowered its position in shares of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,500 shares of the transportation company’s stock after selling 28,200 shares during the quarter. ClariVest Asset Management LLC’s holdings in Atlas Air Worldwide were worth $1,900,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CIBC Asset Management Inc bought a new position in shares of Atlas Air Worldwide during the second quarter valued at approximately $221,000. Silvant Capital Management LLC bought a new position in shares of Atlas Air Worldwide during the first quarter valued at approximately $190,000. Janney Montgomery Scott LLC bought a new position in shares of Atlas Air Worldwide during the second quarter valued at approximately $233,000. Amalgamated Bank bought a new position in shares of Atlas Air Worldwide during the first quarter valued at approximately $202,000. Finally, Element Capital Management LLC bought a new position in shares of Atlas Air Worldwide during the first quarter valued at approximately $217,000.
In related news, CEO William J. Flynn sold 5,000 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $70.25, for a total value of $351,250.00. Following the completion of the transaction, the chief executive officer now directly owns 116,958 shares of the company’s stock, valued at approximately $8,216,299.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 15,000 shares of company stock valued at $1,040,250 over the last three months. Corporate insiders own 2.20% of the company’s stock.
Several research firms have recently commented on AAWW. BidaskClub lowered Atlas Air Worldwide from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Deutsche Bank began coverage on Atlas Air Worldwide in a report on Tuesday. They set a “buy” rating and a $76.00 target price for the company. Susquehanna Bancshares set a $77.00 target price on Atlas Air Worldwide and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, ValuEngine lowered Atlas Air Worldwide from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.67.
NASDAQ:AAWW opened at $61.85 on Thursday. The company has a market cap of $1.56 billion, a PE ratio of 9.95 and a beta of 1.16. Atlas Air Worldwide Holdings, Inc. has a 52 week low of $50.65 and a 52 week high of $75.29. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.72 and a quick ratio of 0.72.
Atlas Air Worldwide (NASDAQ:AAWW) last posted its earnings results on Thursday, August 2nd. The transportation company reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.50. Atlas Air Worldwide had a return on equity of 9.80% and a net margin of 7.18%. The company had revenue of $666.15 million during the quarter, compared to analyst estimates of $634.93 million. During the same period in the prior year, the company earned $1.09 earnings per share. The business’s revenue was up 28.8% compared to the same quarter last year. equities research analysts anticipate that Atlas Air Worldwide Holdings, Inc. will post 6.87 EPS for the current year.
Atlas Air Worldwide Profile
Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services worldwide. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions comprising contractual service arrangements, which include the provision of aircraft; and value-added services, such as crew, maintenance, and insurance to aircraft and other customers.
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