abrdn plc trimmed its stake in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,942 shares of the airline’s stock after selling 39,909 shares during the period. abrdn plc’s holdings in American Airlines Group were worth $1,164,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in American Airlines Group by 502.0% in the first quarter. The Manufacturers Life Insurance Company now owns 2,986,179 shares of the airline’s stock valued at $54,498,000 after buying an additional 2,490,121 shares during the period. Renaissance Technologies LLC acquired a new stake in American Airlines Group in the first quarter worth $44,800,000. SG Americas Securities LLC raised its holdings in American Airlines Group by 103.3% in the first quarter. SG Americas Securities LLC now owns 78,020 shares of the airline’s stock worth $1,151,000 after purchasing an additional 2,426,028 shares during the period. Two Sigma Advisers LP raised its holdings in American Airlines Group by 21.0% in the fourth quarter. Two Sigma Advisers LP now owns 10,655,200 shares of the airline’s stock worth $135,534,000 after purchasing an additional 1,852,000 shares during the period. Finally, Norges Bank acquired a new stake in American Airlines Group in the fourth quarter worth $22,039,000. 57.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on AAL. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective on shares of American Airlines Group in a research report on Tuesday. StockNews.com began coverage on shares of American Airlines Group in a research note on Thursday, May 18th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their price target on shares of American Airlines Group from $14.00 to $15.00 in a research note on Wednesday, May 31st. Jefferies Financial Group increased their price target on shares of American Airlines Group from $15.00 to $20.00 in a research note on Tuesday, July 11th. Finally, Susquehanna cut their target price on shares of American Airlines Group from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.96.
American Airlines Group Stock Up 0.7 %
AAL stock traded up $0.11 during midday trading on Wednesday, reaching $16.76. 21,770,758 shares of the company’s stock traded hands, compared to its average volume of 24,976,855. American Airlines Group Inc. has a 52 week low of $11.65 and a 52 week high of $19.08. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 4.49 and a beta of 1.56. The firm’s fifty day moving average price is $16.40 and its 200-day moving average price is $15.52.
American Airlines Group (NASDAQ:AAL – Get Free Report) last announced its quarterly earnings results on Thursday, July 20th. The airline reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.33. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.74 billion. American Airlines Group had a net margin of 4.98% and a negative return on equity of 45.44%. American Airlines Group’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. Analysts forecast that American Airlines Group Inc. will post 3.3 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Douglas M. Steenland sold 1,950 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $14.10, for a total value of $27,495.00. Following the transaction, the director now owns 29,736 shares of the company’s stock, valued at approximately $419,277.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Douglas M. Steenland sold 1,950 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $14.10, for a total value of $27,495.00. Following the completion of the sale, the director now owns 29,736 shares of the company’s stock, valued at approximately $419,277.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Angela Owens sold 21,984 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $13.79, for a total transaction of $303,159.36. Following the completion of the sale, the senior vice president now directly owns 59,830 shares of the company’s stock, valued at approximately $825,055.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,934 shares of company stock valued at $358,414. Company insiders own 0.78% of the company’s stock.
About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.
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