Traders Purchase Large Volume of Call Options on American Airlines Group (AAL)
American Airlines Group, Inc. (NASDAQ:AAL) saw unusually large options trading on Thursday. Traders acquired 21,701 call options on the company. This represents an increase of approximately 135% compared to the average daily volume of 9,239 call options.
Several analysts have recently commented on the company. BidaskClub upgraded American Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Atlantic Securities assumed coverage on American Airlines Group in a report on Tuesday, June 20th. They set an “underweight” rating and a $56.00 price objective for the company. Bank of America Corporation increased their price objective on American Airlines Group from $40.00 to $42.00 and gave the company an “underperform” rating in a report on Friday, June 30th. ValuEngine upgraded American Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $49.00 price objective (up previously from $46.00) on shares of American Airlines Group in a report on Friday, June 16th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.04.
American Airlines Group (NASDAQ AAL) opened at 53.03 on Friday. The stock has a market cap of $26.12 billion, a price-to-earnings ratio of 12.71 and a beta of 0.97. American Airlines Group has a 52 week low of $27.12 and a 52 week high of $53.38. The company has a 50-day moving average price of $48.29 and a 200-day moving average price of $46.07.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, April 27th. The airline reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. American Airlines Group had a net margin of 5.47% and a return on equity of 81.88%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period in the previous year, the company earned $1.25 earnings per share. American Airlines Group’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that American Airlines Group will post $4.95 EPS for the current year.
In other news, EVP Maya Leibman sold 23,857 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $47.24, for a total transaction of $1,127,004.68. Following the completion of the sale, the executive vice president now owns 182,178 shares in the company, valued at approximately $8,606,088.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Derek J. Kerr sold 104,223 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $50.00, for a total value of $5,211,150.00. Following the sale, the vice president now owns 591,195 shares of the company’s stock, valued at approximately $29,559,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,480 shares of company stock valued at $7,999,471. 0.64% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in AAL. Teacher Retirement System of Texas boosted its stake in shares of American Airlines Group by 9.2% in the first quarter. Teacher Retirement System of Texas now owns 323,344 shares of the airline’s stock worth $13,677,000 after buying an additional 27,340 shares during the period. Strs Ohio boosted its stake in shares of American Airlines Group by 23.0% in the first quarter. Strs Ohio now owns 454,865 shares of the airline’s stock worth $19,240,000 after buying an additional 85,000 shares during the last quarter. Beach Investment Counsel Inc. PA boosted its stake in shares of American Airlines Group by 122.8% in the first quarter. Beach Investment Counsel Inc. PA now owns 174,197 shares of the airline’s stock worth $7,369,000 after buying an additional 96,007 shares during the last quarter. Wealthfront Inc. acquired a new stake in shares of American Airlines Group during the fourth quarter worth approximately $572,000. Finally, Great Lakes Advisors LLC boosted its stake in shares of American Airlines Group by 519.7% in the first quarter. Great Lakes Advisors LLC now owns 55,422 shares of the airline’s stock worth $2,344,000 after buying an additional 46,478 shares during the last quarter. 80.65% of the stock is owned by hedge funds and other institutional investors.
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About American Airlines Group
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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