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

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.”

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.