OP Asset Management Ltd bought a new stake in American Airlines Group Inc. (NASDAQ:AAL – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 81,477 shares of the airline’s stock, valued at approximately $875,000.
Several other institutional investors also recently added to or reduced their stakes in AAL. Neo Ivy Capital Management increased its stake in American Airlines Group by 443.4% in the third quarter. Neo Ivy Capital Management now owns 195,838 shares of the airline’s stock valued at $2,201,000 after purchasing an additional 159,800 shares during the period. Clear Street Group Inc. purchased a new stake in shares of American Airlines Group in the third quarter valued at about $1,480,000. Entropy Technologies LP boosted its stake in shares of American Airlines Group by 874.7% during the third quarter. Entropy Technologies LP now owns 669,600 shares of the airline’s stock worth $7,526,000 after buying an additional 600,900 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of American Airlines Group during the fourth quarter worth about $9,663,000. Finally, Columbus Hill Capital Management L.P. purchased a new position in shares of American Airlines Group during the third quarter worth about $4,487,000. Institutional investors and hedge funds own 52.44% of the company’s stock.
American Airlines Group Stock Up 0.3%
Shares of American Airlines Group stock opened at $17.92 on Tuesday. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 57.81 and a beta of 1.35. American Airlines Group Inc. has a 52-week low of $10.09 and a 52-week high of $18.05. The company’s 50-day simple moving average is $13.84 and its 200-day simple moving average is $13.59.
Insider Activity at American Airlines Group
In other news, COO David Seymour sold 56,456 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $1,016,208.00. Following the completion of the sale, the chief operating officer directly owned 969,033 shares of the company’s stock, valued at $17,442,594. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AAL shares. Jefferies Financial Group boosted their price target on American Airlines Group from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Morgan Stanley increased their price objective on American Airlines Group from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $12.50 target price (down from $17.00) on shares of American Airlines Group in a research note on Thursday, March 5th. Bank of America boosted their target price on American Airlines Group from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Barclays upped their price target on American Airlines Group from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.47.
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.
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