Hodges Capital Management Inc. purchased a new position in American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 282,500 shares of the airline’s stock, valued at approximately $3,034,000.
A number of other hedge funds have also recently added to or reduced their stakes in AAL. Collaborative Fund Advisors LLC bought a new position in shares of American Airlines Group in the 1st quarter worth $1,653,000. Praxis Investment Management Inc. grew its position in American Airlines Group by 7.3% in the 1st quarter. Praxis Investment Management Inc. now owns 26,466 shares of the airline’s stock valued at $284,000 after purchasing an additional 1,806 shares during the period. QRG Capital Management Inc. increased its stake in American Airlines Group by 4.5% during the 1st quarter. QRG Capital Management Inc. now owns 43,897 shares of the airline’s stock valued at $471,000 after purchasing an additional 1,888 shares in the last quarter. HB Wealth Management LLC increased its stake in American Airlines Group by 4.5% during the 1st quarter. HB Wealth Management LLC now owns 20,205 shares of the airline’s stock valued at $217,000 after purchasing an additional 871 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in American Airlines Group by 33.1% during the first quarter. Root Financial Partners LLC now owns 3,816 shares of the airline’s stock worth $41,000 after buying an additional 949 shares during the last quarter. Institutional investors and hedge funds own 52.44% of the company’s stock.
American Airlines Group Trading Down 0.9%
AAL stock opened at $17.75 on Tuesday. The stock’s fifty day simple moving average is $14.44 and its two-hundred day simple moving average is $13.68. American Airlines Group Inc. has a 1-year low of $10.09 and a 1-year high of $18.79. The stock has a market cap of $11.74 billion, a P/E ratio of 57.26 and a beta of 1.32.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Citigroup raised their price objective on shares of American Airlines Group from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Melius Research downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Tuesday. Weiss Ratings upgraded shares of American Airlines Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Bank of America raised their price target on shares of American Airlines Group from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Finally, TD Cowen lifted their price target on American Airlines Group from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.37.
Get Our Latest Research Report on American Airlines Group
Insiders Place Their Bets
In related news, COO David Seymour sold 69,343 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $17.00, for a total transaction of $1,178,831.00. Following the completion of the transaction, the chief operating officer owned 1,025,489 shares in the company, valued at approximately $17,433,313. This represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.
More American Airlines Group News
Here are the key news stories impacting American Airlines Group this week:
- Positive Sentiment: Susquehanna raised its price target on American Airlines Group (AAL) to $25 from $16 and maintained a positive rating, signaling confidence in the airline’s outlook and potential upside. Susquehanna Boosts American Airlines Group (NASDAQ:AAL) Price Target to $25.00
- Neutral Sentiment: Melius Research downgraded American Airlines Group (AAL) from buy to hold, but increased its price target to $19, which still implies some upside and may temper the impact of the downgrade. American Airlines Group was downgraded by Melius Research from buy to hold
- Neutral Sentiment: Recent commentary also highlighted AAL as a potentially attractive long-term quality stock, but this was largely opinion-based and less directly tied to near-term fundamentals. Here is why American Airlines Group Inc. (AAL) is among the Best Quality Stocks to Buy and Hold for the Next Decade
- Neutral Sentiment: A broader airline-industry article noted that falling jet-fuel prices have not yet translated into much lower fares, with carriers still seeing resilient travel demand. This may support airline margins, but it is not specific to AAL. Jet-Fuel Prices Have Plunged but Aren’t Resulting in Much Lower Fares
American Airlines Group 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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