Short Interest in American Airlines Group Inc (AAL) Drops By 19.7%

American Airlines Group Inc (NASDAQ:AAL) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 26,805,787 shares, a drop of 19.7% from the October 31st total of 33,402,262 shares. Based on an average daily volume of 9,234,393 shares, the days-to-cover ratio is presently 2.9 days. Currently, 5.9% of the company’s stock are short sold.

In other American Airlines Group news, Director John T. Cahill bought 25,000 shares of American Airlines Group stock in a transaction 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 purchase, the director now directly owns 6,531 shares of the company’s stock, valued at $218,592.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Benjamin bought 15,000 shares of American Airlines Group stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $35.69 per share, with a total value of $535,350.00. Following the completion of the purchase, the director now directly owns 22,146 shares of the company’s stock, valued at $790,390.74. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in American Airlines Group by 1.7% in the 3rd quarter. Morgan Stanley now owns 1,988,433 shares of the airline’s stock valued at $82,181,000 after buying an additional 33,850 shares during the period. Legal & General Group Plc increased its holdings in American Airlines Group by 3.2% in the 3rd quarter. Legal & General Group Plc now owns 718,125 shares of the airline’s stock valued at $29,680,000 after buying an additional 22,066 shares during the period. Standard Life Aberdeen plc increased its holdings in American Airlines Group by 16.0% in the 3rd quarter. Standard Life Aberdeen plc now owns 93,981 shares of the airline’s stock valued at $3,884,000 after buying an additional 12,944 shares during the period. Glenmede Trust Co. NA increased its holdings in American Airlines Group by 108.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,366 shares of the airline’s stock valued at $138,000 after buying an additional 1,753 shares during the period. Finally, Point72 Europe London LLP bought a new stake in American Airlines Group in the 3rd quarter valued at $4,203,000. 84.47% of the stock is currently owned by institutional investors.

NASDAQ:AAL opened at $38.42 on Friday. American Airlines Group has a 12 month low of $30.24 and a 12 month high of $59.08. The company has a market capitalization of $17.64 billion, a PE ratio of 7.87, a PEG ratio of 1.12 and a beta of 1.12.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, October 25th. The airline reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $11.56 billion for the quarter, compared to analyst estimates of $11.55 billion. On average, sell-side analysts forecast that American Airlines Group will post 4.51 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, November 5th. American Airlines Group’s dividend payout ratio is 8.20%.

A number of analysts have issued reports on AAL shares. Citigroup reduced their target price on shares of American Airlines Group from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Macquarie set a $45.00 target price on shares of American Airlines Group and gave the company a “buy” rating in a research note on Monday, October 8th. Buckingham Research reduced their target price on shares of American Airlines Group from $57.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Bank of America reduced their target price on shares of American Airlines Group from $61.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. set a $53.00 target price on shares of American Airlines Group and gave the company a “buy” rating in a research note on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $50.06.

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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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