Here’s Why Atlas Air Worldwide Holdings (AAWW) Outperformed in the Third Quarter

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund returned -5.72% compared to a -4.61 % return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, FPA discussed stocks like Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW). Headquartered in Purchase, New York, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) is an outsourced aircraft and aviation service provider. On October 28, 2022, Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) stock closed at $100.86 per share. One-month return of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) was 3.73% and its shares gained 20.75% of their value over the last 52 weeks. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) has a market capitalization of $2.863 billion.

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

“Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) is an outsourced air freight carrier that we believe traded on cheap multiples of earnings and book value compared to peers. In August, the company agreed to be bought by a consortium led by Apollo Capital for $102.50 per share, a 57% premium to the recent share price.”

Eugene Berman/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 addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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