The New Farnam Street Partners Lp Mn Holding in Air T Inc
Farnam Street Partners Lp Mn filed with the SEC SC 13D form for Air T Inc. The form can be accessed here: 000114420416132366. As reported in Farnam Street Partners Lp Mn’s form, the filler as of late owns 10.5% or 214,958 shares of the Transports–company.
Air T Inc stake is a new one for the and it was filed because of activity on November 3, 2016. We feel this shows Farnam Street Partners Lp Mn’s positive view for the stock.
Reasons Why Farnam Street Partners Lp Mn Bought – Air T Inc Stock
All of the shares of the Company owned bythe Farnam Group were, at the time of their purchase, acquired for investment purposes in the ordinary course of business. TheFarnam Group makes investments in companies that it believes are undervalued and represent an attractive investment opportunity.The Farnam Group may from time to time purchase additional shares of the Company’s stock or dispose of all or some of the shares.
Except as set forth in this Item 4, theFarnam Group has no present plans or proposal that relates to or would result in any of the actions specified in clauses (a) through(j) of Item 4 of Schedule 13D. As stated in Item 2, Mr. Cabillot has been a non-employee director of the Company since November3, 2016.
The Farnam Group intends to review its investmentin the Issuer on a continuing basis and, depending on various factors, including, without limitation, the Issuer’s financialposition and investment strategy, the price levels of the common stock, conditions in the securities markets, conditions in theindustry and general economic conditions, may in the future take such actions with respect to its investment in the Issuer as itdeems appropriate including, without limitation, purchasing additional shares of common stock or selling some or all of its sharesor to change its intention with respect to any and all matters to in Item 4.
Air T Inc Institutional Sentiment
Latest Security and Exchange filings show 17 investors own Air T Inc. The institutional ownership in Q3 2015 is low, at 277.70% of the outstanding shares. This is increased by 4654070 the total institutional shares. 5665174 were the shares owned by these institutional investors. In total 0 funds opened new Air T Inc stakes, 3 increased stakes. There were 2 that closed positions and 5 reduced them.
Oshaughnessy Asset Management Llc is an institutional investor bullish on Air T Inc, owning 105 shares as of Q3 2015 for less than 0.01% of its portfolio. Lsv Asset Management owns 58233 shares or less than 0.01% of its portfolio. MN Blue Clay Capital Management Llc have 0.62% of their stock portfolio for 43595 shares. Further, James Investment Research Inc reported stake worth less than 0.01% of its US stock portfolio. The TX Biglari Capital Corp owns 338500 shares. Air T Inc is 0.55% of the manager’s US portfolio.
Air T, Inc. is a holding company. The Company operates through five segments: overnight air cargo, ground equipment sales, ground support services, printing equipment and maintenance, and leasing. The company’s overnight air cargo segment operates in the air express delivery services industry. The ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the United States military and industrial customers. The ground support services segment provides ground support equipment maintenance and facilities maintenance services to domestic airlines and aviation service providers. The printing equipment and maintenance segment designs, manufactures and sells advanced digital print production equipment, maintenance contracts, spare parts, supplies and consumable items for these systems. The Company’s leasing segment provides funding for equipment leasing transactions.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.40, from 1.4 in 2016Q1. The ratio dived, as 1 funds sold all Air T, Inc. shares owned while 5 reduced positions. 2 funds bought stakes while 4 increased positions. They now own 953,776 shares or 0.17% more from 952,145 shares in 2016Q1.
Blackrock Management Ltd Company accumulated 239 shares or 0% of the stock. Blue Clay Capital Mgmt Lc, a Minnesota-based fund reported 51,827 shares. California Employees Retirement, a California-based fund reported 63,200 shares. Renaissance Techs reported 152,600 shares or 0.01% of all its holdings. The California-based Blackrock Institutional Tru Na has invested 0% in Air T, Inc. (NASDAQ:AIRT). Eagle Global Llc owns 10,025 shares or 0.01% of their US portfolio. Morgan Stanley holds 4,679 shares or 0% of its portfolio. Moreover, Manufacturers Life Insur Comm The has 0% invested in Air T, Inc. (NASDAQ:AIRT) for 41 shares. Blackrock Fund Advsrs holds 0% or 253 shares in its portfolio. Blackrock, a New York-based fund reported 2,000 shares. The New York-based Tower Research Cap Ltd Company (Trc) has invested 0% in Air T, Inc. (NASDAQ:AIRT). Lsv Asset Mngmt last reported 0% of its portfolio in the stock. James Investment Research holds 0% or 225 shares in its portfolio. Fmr Llc, a Massachusetts-based fund reported 231,000 shares. Creative Planning has 500 shares for 0% of their US portfolio.
Insider Transactions: Since May 31, 2016, the stock had 1 insider purchase, and 1 insider sale for $29,592 net activity. Foudray William R bought $50,000 worth of stock or 2,500 shares. BIGLARI CAPITAL CORP. sold $20,408 worth of stock.
It is up 25.31% since April 6, 2016 and is downtrending. It has underperformed by 28.45% the S&P500.
Air T, Inc. is a holding company. The Company operates through five divisions: overnight air cargo, ground equipment sales, ground support services, printing equipment and maintenance, and leasing. The company has a market cap of $36.72 million. The company’s overnight air cargo segment operates in the air express delivery services industry. It has a 21.84 P/E ratio. The ground equipment sales segment makes and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the United States military and industrial customers.
More notable recent Air T, Inc. (NASDAQ:AIRT) news were published by: Reuters.com which released: “BRIEF-Air T Inc board of directors adopts resolution to increase size of t…” on November 03, 2016, also Prnewswire.com with their article: “Air T, Inc. Reports Fiscal 2016 Results” published on June 29, 2016, Prnewswire.com published: “Air T, Inc. Completes Investment In Delphax Technologies” on December 03, 2015. More interesting news about Air T, Inc. (NASDAQ:AIRT) were released by: Prnewswire.com and their article: “Delphax Closes On Financing Agreement With Air T, Inc.” published on December 03, 2015 as well as Seekingalpha.com‘s news article titled: “The Plot Thickens At Air T” with publication date: August 18, 2016.
According to Zacks Investment Research, “Air T, Inc., through its subsidiaries, MAC and CSA operates exclusively as contract carriers for overnight delivery of small package air freight throughout the eastern half of the United States and Canada, and in Puerto Rico and the U.S. Virgin Islands. Over the past six fiscal years, as a consequence of changes in customer preference, MAC and CSA have shifted their focus away from operating company- owned aircraft to operating customer-owned aircraft under dry-lease service contracts.”
AIRT Company Profile
Air T, Inc., incorporated on November 17, 1980, is a holding company. The Firm operates through five divisions: overnight air cargo, ground equipment sales, ground support services, printing equipment and maintenance, and leasing. The overnight air cargo segment, which consists of the Company’s Mountain Air Cargo, Inc. (MAC) and CSA Air, Inc. (CSA) subsidiaries, operates in the air express delivery services industry. MAC and CSA operate and maintain Cessna Caravan, ATR-42 and ATR-72 aircraft that fly daily small-package cargo routes throughout the eastern United States, upper Midwest and the Caribbean.
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