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Should You Still Consider Investing in Atlas Air Worldwide (AAWW)?

·2 min read

Greenlight Capital, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Greenlight Capital funds (the “Partnerships”) returned 8.4% in the second quarter of 2022 and 13.2% for the first half of 2022, compared to a 16.1% decline and a 20.0% decline for the S&P 500 index for the quarter and a half year, respectively. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Greenlight Capital mentioned Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) and explained its insights for the company. Founded in 1992, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) is a Harrison, New York-based cargo airline with a $2.8 billion market capitalization. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) delivered a 6.34% return since the beginning of the year, while its 12-month returns are up by 30.67%. The stock closed at $100.09 per share on August 12, 2022.

Here is what Greenlight Capital has to say about Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) in its Q2 2022 investor letter:

"Atlas Air Worldwide (NASDAQ:AAWW). The shares ended the quarter at $61.71. This is about 65% of book value and less than 4x consensus earnings. The company has bought back 4% of the stock this year and has authorized another 6% buyback. At quarter-end, the largest disclosed long positions in the Partnerships includes Atlas Air Worldwide."

15 Countries with the Strictest Customs, Border Control and Airport Security in the World
15 Countries with the Strictest Customs, Border Control and Airport Security in the World

Alexey Y. Petrov/Shutterstock.com

Our calculations show that Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) was in 36 hedge fund portfolios at the end of the second quarter of 2022, compared to 35 funds in the previous quarter. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) delivered a 42.84% return in the past 3 months.

In August 2021, we also shared another hedge fund’s views on Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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