Sumitomo Mitsui Trust Group Inc. Purchases 87,626 Shares of American Airlines Group Inc. $AAL

Sumitomo Mitsui Trust Group Inc. acquired a new stake in American Airlines Group Inc. (NASDAQ:AAL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 87,626 shares of the airline’s stock, valued at approximately $1,172,000.

Other hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its stake in American Airlines Group by 4.5% in the first quarter. HB Wealth Management LLC now owns 20,205 shares of the airline’s stock worth $217,000 after acquiring an additional 871 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in American Airlines Group by 1.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 70,836 shares of the airline’s stock valued at $1,280,000 after purchasing an additional 972 shares during the period. International Assets Investment Management LLC increased its position in American Airlines Group by 8.2% during the 1st quarter. International Assets Investment Management LLC now owns 12,820 shares of the airline’s stock valued at $143,000 after purchasing an additional 977 shares during the period. Mountain Hill Investment Partners Corp. raised its holdings in shares of American Airlines Group by 16.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 7,000 shares of the airline’s stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of American Airlines Group by 9.4% in the 2nd quarter. NewEdge Advisors LLC now owns 15,661 shares of the airline’s stock valued at $283,000 after purchasing an additional 1,351 shares in the last quarter. 52.44% of the stock is owned by hedge funds and other institutional investors.

American Airlines Group Stock Up 1.9%

NASDAQ:AAL opened at $13.18 on Friday. American Airlines Group Inc. has a 52 week low of $10.09 and a 52 week high of $18.79. The firm has a 50 day moving average of $12.88 and a 200 day moving average of $13.51. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of -18.05 and a beta of 1.45.

American Airlines Group (NASDAQ:AAL) last announced its earnings results on Thursday, October 22nd. The airline reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.08. American Airlines Group had a negative net margin of 0.79% and a negative return on equity of 9.11%. The company had revenue of $16.34 billion during the quarter, compared to the consensus estimate of $16.21 billion. During the same period last year, the firm earned ($0.17) earnings per share. American Airlines Group’s revenue was up 19.3% compared to the same quarter last year. As a group, analysts expect that American Airlines Group Inc. will post -1.30 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAL. TD Cowen dropped their price objective on shares of American Airlines Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Freedom Broker reduced their price objective on shares of American Airlines Group from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. BMO Capital Markets lowered their target price on American Airlines Group from $19.00 to $15.50 and set a “market perform” rating for the company in a report on Monday, September 28th. Weiss Ratings downgraded American Airlines Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. Finally, Sanford C. Bernstein set a $19.00 target price on American Airlines Group in a research note on Tuesday, October 20th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, American Airlines Group currently has an average rating of “Hold” and an average price target of $17.28.

American Airlines Group Profile

American Airlines Group Inc is a holding company whose principal business is operating a global airline through American Airlines and its regional partners. The company provides scheduled passenger and cargo air transportation, along with related services such as loyalty programs and travel offerings.

Its network connects destinations across the United States and serves markets in the Caribbean, Latin America, Europe and the Asia-Pacific region. Regional flights are operated under the American Eagle brand by affiliated carriers.

American Airlines Group was formed in 2013 through the merger of AMR Corporation, the parent of American Airlines, and US Airways Group.