DNB Asset Management AS raised its position in American Airlines Group Inc (NASDAQ:AAL) by 7.8% in the first quarter, Holdings Channel reports. The fund owned 14,936 shares of the airline’s stock after buying an additional 1,078 shares during the period. DNB Asset Management AS’s holdings in American Airlines Group were worth $474,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AAL. Bank of New York Mellon Corp lifted its stake in American Airlines Group by 19.3% in the third quarter. Bank of New York Mellon Corp now owns 3,270,123 shares of the airline’s stock worth $135,155,000 after acquiring an additional 528,532 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in American Airlines Group by 21.3% during the third quarter. The Manufacturers Life Insurance Company now owns 584,299 shares of the airline’s stock worth $24,149,000 after purchasing an additional 102,582 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in American Airlines Group by 108.7% during the third quarter. Glenmede Trust Co. NA now owns 3,366 shares of the airline’s stock worth $138,000 after purchasing an additional 1,753 shares in the last quarter. Standard Life Aberdeen plc raised its holdings in American Airlines Group by 16.0% during the third quarter. Standard Life Aberdeen plc now owns 93,981 shares of the airline’s stock worth $3,884,000 after purchasing an additional 12,944 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in American Airlines Group by 3.2% during the third quarter. Legal & General Group Plc now owns 718,125 shares of the airline’s stock worth $29,680,000 after purchasing an additional 22,066 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.
AAL has been the topic of a number of research analyst reports. Imperial Capital cut their price objective on shares of American Airlines Group from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, January 9th. They noted that the move was a valuation call. Cowen reissued an “outperform” rating and set a $42.00 price objective (down previously from $43.00) on shares of American Airlines Group in a report on Thursday, January 10th. ValuEngine cut shares of American Airlines Group from a “sell” rating to a “strong sell” rating in a report on Friday, January 11th. Macquarie set a $53.00 price objective on shares of American Airlines Group and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Vertical Research initiated coverage on shares of American Airlines Group in a report on Monday, February 4th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $44.85.
Shares of American Airlines Group stock opened at $34.37 on Friday. The firm has a market capitalization of $15.43 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.53. American Airlines Group Inc has a 12 month low of $28.81 and a 12 month high of $47.77.
American Airlines Group (NASDAQ:AAL) last announced its earnings results on Thursday, January 24th. The airline reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $10.94 billion for the quarter, compared to analysts’ expectations of $10.94 billion. American Airlines Group had a net margin of 3.17% and a negative return on equity of 322.87%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Analysts predict that American Airlines Group Inc will post 5.74 earnings per share for the current fiscal year.
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About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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