U S Global Investors Inc. cut its holdings in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,485,318 shares of the airline’s stock after selling 1,232,906 shares during the period. American Airlines Group accounts for approximately 8.2% of U S Global Investors Inc.’s investment portfolio, making the stock its 4th biggest holding. U S Global Investors Inc. owned about 0.98% of American Airlines Group worth $72,895,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AAL. Marshall Wace LLP boosted its holdings in American Airlines Group by 319.4% in the second quarter. Marshall Wace LLP now owns 5,019,492 shares of the airline’s stock worth $56,319,000 after acquiring an additional 3,822,757 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of American Airlines Group by 8.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,779,849 shares of the airline’s stock valued at $42,410,000 after purchasing an additional 299,219 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in American Airlines Group in the 3rd quarter worth approximately $37,533,000. Invesco Ltd. boosted its stake in American Airlines Group by 1.3% in the 2nd quarter. Invesco Ltd. now owns 2,978,006 shares of the airline’s stock worth $33,413,000 after purchasing an additional 36,877 shares in the last quarter. Finally, HRT Financial LP grew its position in American Airlines Group by 3.1% during the 2nd quarter. HRT Financial LP now owns 2,741,383 shares of the airline’s stock worth $30,758,000 after purchasing an additional 83,653 shares during the last quarter. Institutional investors and hedge funds own 52.44% of the company’s stock.
American Airlines Group Stock Up 1.0%
Shares of AAL opened at $15.48 on Friday. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.61 and a beta of 1.23. American Airlines Group Inc. has a 52 week low of $8.50 and a 52 week high of $19.10. The stock’s 50-day moving average price is $14.15 and its 200-day moving average price is $12.84.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of American Airlines Group from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Monday, September 29th. Citigroup began coverage on American Airlines Group in a research report on Thursday, December 4th. They issued a “buy” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. raised their target price on American Airlines Group from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Jefferies Financial Group boosted their price target on American Airlines Group from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Finally, Susquehanna increased their price objective on American Airlines Group from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.46.
Read Our Latest Stock Analysis on AAL
About American Airlines Group
American Airlines Group Inc is a leading global airline holding company headquartered in Fort Worth, Texas. Formed in December 2013 through the merger of AMR Corporation (parent of American Airlines) and US Airways Group, the company operates one of the world’s largest passenger and cargo networks. Its subsidiaries include American Airlines, which provides mainline service, and American Eagle, a network of regional carriers operating short- and medium-haul routes on behalf of the mainline carrier.
The company offers scheduled air transportation for passengers and cargo to more than 350 destinations in over 50 countries.
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