California Public Employees Retirement System grew its position in American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,257,749 shares of the airline’s stock after acquiring an additional 38,844 shares during the quarter. California Public Employees Retirement System owned about 0.19% of American Airlines Group worth $13,508,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Two Sigma Investments LP grew its holdings in shares of American Airlines Group by 49.1% during the third quarter. Two Sigma Investments LP now owns 13,670,800 shares of the airline’s stock worth $153,660,000 after buying an additional 4,500,897 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Airlines Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 12,803,168 shares of the airline’s stock worth $196,323,000 after purchasing an additional 159,844 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of American Airlines Group by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,934,622 shares of the airline’s stock worth $106,306,000 after purchasing an additional 225,599 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of American Airlines Group by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,483,781 shares of the airline’s stock worth $99,396,000 after purchasing an additional 406,393 shares during the period. Finally, U S Global Investors Inc. lifted its holdings in shares of American Airlines Group by 15.5% during the first quarter. U S Global Investors Inc. now owns 6,435,049 shares of the airline’s stock worth $69,112,000 after purchasing an additional 865,205 shares during the period. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
American Airlines Group Stock Performance
Shares of AAL stock opened at $14.48 on Friday. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of -29.55 and a beta of 1.32. American Airlines Group Inc. has a one year low of $10.09 and a one year high of $18.79. The company has a 50 day moving average price of $15.35 and a 200 day moving average price of $13.71.
Insider Activity at American Airlines Group
In other news, COO David Seymour sold 69,343 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $17.00, for a total value of $1,178,831.00. Following the transaction, the chief operating officer directly owned 1,025,489 shares in the company, valued at $17,433,313. This trade represents a 6.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.
American Airlines Group News Summary
Here are the key news stories impacting American Airlines Group this week:
- Positive Sentiment: JPMorgan raised its price target on AAL to $24 from $22 and kept an overweight rating, signaling greater confidence in the stock’s upside after the post-earnings pullback. Benzinga
- Positive Sentiment: Zacks added American Airlines to its Rank #1 (Strong Buy) list, while other commentary said the stock looks technically oversold and could be due for a turnaround. Zacks
- Positive Sentiment: Analysts and market commentary pointed to improving sentiment around revenue strategy, premium demand, loyalty growth, and network gains, which supports the case for a recovery after the stock’s recent drop. Yahoo Finance
- Neutral Sentiment: American Airlines reported record quarterly revenue of $16.74 billion and beat EPS expectations, but investors are balancing that strength against a sharp profit decline year over year and a weaker full-year outlook. GlobeNewswire
- Negative Sentiment: The main pressure point remains surging jet fuel costs, which led American Airlines to cut its earnings guidance and cloud the profit outlook despite strong demand trends. CNBC
Analyst Ratings Changes
Several equities analysts have issued reports on AAL shares. Wells Fargo & Company reissued a “market perform” rating on shares of American Airlines Group in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price objective on shares of American Airlines Group from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price objective on American Airlines Group from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Jefferies Financial Group increased 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. Finally, Susquehanna raised their price target on American Airlines Group from $16.00 to $25.00 and gave the company a “positive” rating in a report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, American Airlines Group currently has a consensus rating of “Hold” and an average target price of $19.18.
Check Out Our Latest Report on American Airlines Group
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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