Nicholas Swenson (Insider Trades), CEO and 10% owner of Air T Inc. (AIRT), acquired 17,290 shares of the company on Dec. 12. The average price per share was $21.08 for a total transaction of $364,473. Air T is a holding company focused on overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services and commercial jet engines. The company has a market cap of $44.74 million.
Swenson’s aforementioned transaction was his only with the company from 2013 to 2016 to date. The most recent insider transaction with Air T prior to Swenson’s purchase was Air T Director William Foudray (Insider Trades). Foudray purchased 2,500 shares of the company at an average per share price of $20 on Sept. 9. So far in 2016, there have been six insider sales, all conducted by 10% owner Biglari Capital Corp. (Insider Trades). Since 2013, the number of Air T insider purchases indirectly correlated with month-end prices. The month-end price increased at the end of 2014 and began decreasing in 2016. For more information about insider trades with Air T, click here.
For the three months ended on Sept. 30, the company reported operating revenues of $38.523 million. Revenues decreased in comparison to the $44.654 million reported by the company in the corresponding quarter of 2015. Net income also decreased from $3.794 million, or $1.58 per share, to $1.080 million, or 52 cents per share, when comparing the same periods of time. The company's annual revenue follows an increasing trendline and has increased 10.74% since 2013. The company’s annual net income also follows an increasing trendline. For more financial statistics on Air T, click here.
In July 2016, Air T announced the acquisition of Contrail Aviation Support Inc., a surplus and aftermarket commercial jet engine components supplier. Contrail will continue to operate in the same location as New Contrail and will be headed by CEO Joseph Kuhn, who held the position of president at Contrail Aviation Support.
According to GuruFocus, Air T Inc. has a business predictability ranking of 1 out of 5 stars. For more information about business predictability rankings, click here.
Jim Simons (Trades, Portfolio) reduced his position in the company by 0.72% during the third quarter. He sold 1,100 shares of Air T for an average per share price of $20.93. Simons has increased his holding each quarter since the third quarter of 2012. The total estimated gain of the holding since the first quarter of 2010 is 65%. For more information about guru trades with Air T, click here.
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