Air T, Inc. (NASDAQ:AIRT) Director Acquires $22,500.00 in Stock

Air T, Inc. (NASDAQ:AIRT) Director William R. Foudray bought 1,250 shares of Air T stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $22,500.00. Following the purchase, the director now owns 12,500 shares of the company’s stock, valued at approximately $225,000. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Air T Stock Performance

AIRT stock opened at $22.40 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.27 and a debt-to-equity ratio of 13.44. The business’s fifty day simple moving average is $17.69 and its two-hundred day simple moving average is $21.17. Air T, Inc. has a twelve month low of $12.53 and a twelve month high of $30.60. The firm has a market cap of $61.82 million, a price-to-earnings ratio of -25.75 and a beta of 0.75.

Hedge Funds Weigh In On Air T

An institutional investor recently raised its position in Air T stock. Renaissance Technologies LLC increased its position in shares of Air T, Inc. (NASDAQ:AIRT) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,511 shares of the transportation company’s stock after buying an additional 1,600 shares during the period. Renaissance Technologies LLC owned about 4.29% of Air T worth $2,528,000 at the end of the most recent quarter. Institutional investors own 8.90% of the company’s stock.

Air T Company Profile

Air T, Inc, through its subsidiaries, provides overnight air cargo, ground equipment sale, and commercial jet engines and parts in the United States and internationally. The Overnight Air Cargo segment offers air express delivery services. As of March 31, 2023, this segment had 85 aircraft under the dry-lease agreements with FedEx.