Wedbush Securities Inc. purchased a new position in American Airlines Group Inc (NASDAQ:AAL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,131 shares of the airline’s stock, valued at approximately $298,000.
A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of American Airlines Group by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 5,530,993 shares of the airline’s stock valued at $177,362,000 after acquiring an additional 366,191 shares during the last quarter. U S Global Investors Inc. raised its stake in shares of American Airlines Group by 83.4% during the first quarter. U S Global Investors Inc. now owns 585,558 shares of the airline’s stock valued at $18,709,000 after acquiring an additional 266,256 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of American Airlines Group by 86.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the airline’s stock valued at $18,262,000 after acquiring an additional 260,000 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of American Airlines Group during the first quarter valued at about $7,886,000. Finally, Packer & Co Ltd raised its stake in shares of American Airlines Group by 50.4% during the second quarter. Packer & Co Ltd now owns 638,400 shares of the airline’s stock valued at $20,818,000 after acquiring an additional 214,000 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
AAL has been the subject of several recent analyst reports. Deutsche Bank set a $42.00 price objective on shares of American Airlines Group and gave the company a “buy” rating in a research note on Friday, July 26th. ValuEngine cut shares of American Airlines Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Barclays reduced their price target on shares of American Airlines Group from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Citigroup set a $54.00 price target on shares of American Airlines Group and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Macquarie cut shares of American Airlines Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $34.00 in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. American Airlines Group presently has a consensus rating of “Hold” and a consensus price target of $41.19.
Shares of NASDAQ AAL traded up $0.38 during midday trading on Friday, hitting $25.79. 8,826,800 shares of the company traded hands, compared to its average volume of 7,307,655. American Airlines Group Inc has a 12-month low of $25.14 and a 12-month high of $43.89. The stock has a 50-day moving average price of $31.27 and a 200 day moving average price of $32.48. The firm has a market cap of $11.31 billion, a P/E ratio of 5.67, a P/E/G ratio of 0.31 and a beta of 1.66.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.05. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.98 billion. American Airlines Group had a net margin of 3.35% and a negative return on equity of 588.10%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. Sell-side analysts predict that American Airlines Group Inc will post 4.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, August 6th. American Airlines Group’s dividend payout ratio (DPR) is presently 8.79%.
American Airlines Group Profile
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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