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Is This a Good Time to Sell Atlas Air Worldwide Holdings (AAWW)?

Greenlight Capital, an investment management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, Greenlight Capital funds returned 4.0% net of fees and expenses compared to a 4.9% decline for the S&P 500 index. For the nine months ended September 2022, the fund delivered a 17.7% return net of fees and expenses compared to a 23.9% decline for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Greenlight Capital discussed stocks like Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) in its Q3 2022 investor letter. Headquartered in Purchase, New York, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) is an outsourced aircraft and aviation service provider. On October 20, 2022, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) stock closed at $100.64 per share. One-month return of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) was 2.81% and its shares gained 24.23% of their value over the last 52 weeks. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) has a market capitalization of $2.85 billion.

Greenlight Capital made the following comment about Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) in its Q3 2022 investor letter:

"In August, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) announced it would be sold to a private equity consortium for $102.50 per share. Even though this price represents a very low multiple, and is likely to be an extremely attractive deal for the buyers, we happily exited our position after the announcement. Over a 2+ year holding period, we achieved an IRR of almost 80% on this investment. As we have written many times, it has been a difficult environment for value stocks. However, there is an old saying that “good things happen to cheap stocks” and that certainly happened here. We doubt this will be the last time private equity sees better value in our portfolio companies than other public markets investors do."

Andrey Khachatryan/Shutterstock.com

Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) at the end of the second quarter, which was 36 in the previous quarter.

We discussed Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) in another article and shared Greenlight Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.