American Airlines Group Inc (NASDAQ:AAL) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 33,402,262 shares, an increase of 9.5% from the October 15th total of 30,503,910 shares. Currently, 7.3% of the company’s shares are sold short. Based on an average daily volume of 12,365,425 shares, the days-to-cover ratio is presently 2.7 days.
A number of equities research analysts recently issued reports on AAL shares. BidaskClub downgraded shares of American Airlines Group from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Morgan Stanley set a $39.00 price objective on shares of American Airlines Group and gave the stock a “hold” rating in a research note on Friday, October 5th. ValuEngine upgraded shares of American Airlines Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Buckingham Research decreased their price objective on shares of American Airlines Group from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Finally, Imperial Capital boosted their price objective on shares of American Airlines Group from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $50.71.
AAL opened at $36.22 on Friday. American Airlines Group has a 52-week low of $30.24 and a 52-week high of $59.08. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.12.
American Airlines Group (NASDAQ:AAL) last posted its earnings results on Thursday, October 25th. The airline reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. American Airlines Group had a net margin of 3.06% and a return on equity of 568.86%. The business had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $11.55 billion. As a group, sell-side analysts predict that American Airlines Group will post 4.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, November 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. American Airlines Group’s payout ratio is currently 8.20%.
In related news, Director John T. Cahill bought 25,000 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average cost of $33.47 per share, for a total transaction of $836,750.00. Following the completion of the acquisition, the director now owns 6,531 shares in the company, valued at $218,592.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of American Airlines Group during the third quarter worth $115,000. Stratos Wealth Partners LTD. acquired a new position in shares of American Airlines Group during the third quarter worth $117,000. Exane Derivatives lifted its position in shares of American Airlines Group by 176,700.0% during the second quarter. Exane Derivatives now owns 3,536 shares of the airline’s stock worth $136,000 after purchasing an additional 3,534 shares in the last quarter. Trilogy Capital Inc. lifted its position in shares of American Airlines Group by 10,137.5% during the second quarter. Trilogy Capital Inc. now owns 4,095 shares of the airline’s stock worth $155,000 after purchasing an additional 4,055 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of American Airlines Group during the second quarter worth $185,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.
About American Airlines Group
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, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in 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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