Fifth Third Bancorp Purchases 153,369 Shares of American Airlines Group Inc. $AAL

Fifth Third Bancorp raised its position in American Airlines Group Inc. (NASDAQ:AAL) by 2,448.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,634 shares of the airline’s stock after buying an additional 153,369 shares during the quarter. Fifth Third Bancorp’s holdings in American Airlines Group were worth $1,714,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp boosted its stake in shares of American Airlines Group by 818.7% in the fourth quarter. M&T Bank Corp now owns 212,892 shares of the airline’s stock valued at $3,264,000 after buying an additional 189,720 shares during the period. Assenagon Asset Management S.A. acquired a new position in American Airlines Group in the 4th quarter valued at $9,663,000. Convergence Investment Partners LLC bought a new stake in shares of American Airlines Group during the 4th quarter valued at $804,000. Hodges Capital Management Inc. bought a new position in shares of American Airlines Group in the first quarter worth $3,034,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in shares of American Airlines Group in the fourth quarter worth $9,275,000. Institutional investors own 52.44% of the company’s stock.

Insiders Place Their Bets

In related news, COO David Seymour sold 56,456 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $1,016,208.00. Following the sale, the chief operating officer owned 969,033 shares in the company, valued at $17,442,594. The trade was a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

American Airlines Group Price Performance

AAL stock opened at $14.79 on Thursday. The company has a 50 day simple moving average of $15.29 and a 200 day simple moving average of $13.71. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 47.71 and a beta of 1.32. American Airlines Group Inc. has a 1 year low of $10.09 and a 1 year high of $18.79.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, April 23rd. The airline reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. American Airlines Group had a net margin of 0.36% and a negative return on equity of 9.11%. The company had revenue of $13.91 billion during the quarter, compared to the consensus estimate of $16.13 billion. During the same period in the prior year, the business earned ($0.59) earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that American Airlines Group Inc. will post 0.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AAL. Sanford C. Bernstein upped their price objective on shares of American Airlines Group from $20.00 to $23.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 1st. UBS Group upped their price target on shares of American Airlines Group from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. TD Cowen increased their price target on shares of American Airlines Group from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Barclays lifted their price objective on shares of American Airlines Group from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group upped their target price on American Airlines Group from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.37.

American Airlines Group Company Profile

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.