Envestnet Asset Management Inc. Raises Stock Position in American Airlines Group Inc. (NASDAQ:AAL)

Envestnet Asset Management Inc. increased its stake in American Airlines Group Inc. (NASDAQ:AAL) by 25.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 60,672 shares of the airline’s stock after buying an additional 12,493 shares during the period. Envestnet Asset Management Inc.’s holdings in American Airlines Group were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of American Airlines Group by 10.7% during the 1st quarter. Geode Capital Management LLC now owns 11,648,400 shares of the airline’s stock worth $277,953,000 after acquiring an additional 1,123,160 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of American Airlines Group by 5.0% during the 1st quarter. Nuveen Asset Management LLC now owns 5,528,863 shares of the airline’s stock worth $132,140,000 after acquiring an additional 265,157 shares during the last quarter. Northern Trust Corp boosted its stake in shares of American Airlines Group by 3.8% during the 1st quarter. Northern Trust Corp now owns 5,378,296 shares of the airline’s stock worth $128,542,000 after acquiring an additional 197,361 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in shares of American Airlines Group during the 1st quarter worth $50,989,000. Finally, Hosking Partners LLP boosted its stake in shares of American Airlines Group by 21.8% during the 2nd quarter. Hosking Partners LLP now owns 1,970,355 shares of the airline’s stock worth $41,791,000 after acquiring an additional 353,197 shares during the last quarter. Institutional investors own 53.32% of the company’s stock.

Shares of NASDAQ AAL opened at $20.52 on Thursday. The firm’s fifty day moving average is $20.06 and its two-hundred day moving average is $21.71. American Airlines Group Inc. has a 52-week low of $10.63 and a 52-week high of $26.09. The company has a market cap of $13.29 billion, a P/E ratio of -1.96 and a beta of 1.78.

American Airlines Group (NASDAQ:AAL) last posted its earnings results on Wednesday, July 21st. The airline reported ($1.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.02. The business had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the firm earned ($7.82) earnings per share. The business’s quarterly revenue was up 361.0% on a year-over-year basis. As a group, equities analysts anticipate that American Airlines Group Inc. will post -6.89 earnings per share for the current fiscal year.

AAL has been the topic of several analyst reports. Susquehanna Bancshares upgraded shares of American Airlines Group to a “neutral” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Tuesday, July 27th. Seaport Global Securities upgraded shares of American Airlines Group from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Friday, July 23rd. Redburn Partners started coverage on shares of American Airlines Group in a research note on Wednesday, August 11th. They set a “buy” rating on the stock. Seaport Res Ptn upgraded shares of American Airlines Group from a “neutral” rating to a “buy” rating in a research note on Friday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $23.00 target price on shares of American Airlines Group in a research note on Friday, August 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.73.

About American Airlines Group

American Airlines Group, Inc is a holding company, which engages in the operation of a network carrier through its principal wholly-owned mainline operating subsidiary, American. The firm offers air transportation for passengers and cargo. It operates through the following geographical segments: Department of Transportation Domestic; Department of Transportation Latin America; Department of Transportation Atlantic; and Department of Transportation Pacific.

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Institutional Ownership by Quarter for American Airlines Group (NASDAQ:AAL)

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