Primecap Management Co. CA Increases Stock Position in American Airlines Group Inc. (NASDAQ:AAL)

Primecap Management Co. CA increased its stake in shares of American Airlines Group Inc. (NASDAQ:AAL) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,225,707 shares of the airline’s stock after buying an additional 2,886,041 shares during the period. Primecap Management Co. CA owned about 9.16% of American Airlines Group worth $1,049,734,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in American Airlines Group by 69.5% during the fourth quarter. Principal Financial Group Inc. now owns 2,575,571 shares of the airline’s stock worth $44,892,000 after buying an additional 1,055,667 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of American Airlines Group by 379.6% in the third quarter. Toronto Dominion Bank now owns 1,667,539 shares of the airline’s stock worth $18,743,000 after purchasing an additional 1,319,859 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of American Airlines Group in the fourth quarter worth about $26,033,000. Point72 DIFC Ltd purchased a new position in shares of American Airlines Group in the third quarter worth about $16,490,000. Finally, Hosking Partners LLP increased its stake in shares of American Airlines Group by 51.5% in the fourth quarter. Hosking Partners LLP now owns 1,326,755 shares of the airline’s stock worth $23,125,000 after purchasing an additional 450,727 shares in the last quarter. Hedge funds and other institutional investors own 52.44% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Angela Owens sold 51,906 shares of American Airlines Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $17.15, for a total value of $890,187.90. Following the sale, the senior vice president now directly owns 112,412 shares in the company, valued at $1,927,865.80. The trade was a 31.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert D. Isom, Jr. sold 102,441 shares of American Airlines Group stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $17.21, for a total value of $1,763,009.61. Following the completion of the sale, the chief executive officer now owns 2,967,984 shares in the company, valued at approximately $51,079,004.64. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAL shares. Redburn Partners upgraded shares of American Airlines Group from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, February 26th. TD Cowen raised their price objective on shares of American Airlines Group to $26.00 and gave the company a “buy” rating in a research report on Thursday, March 13th. Redburn Atlantic upgraded shares of American Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price objective on shares of American Airlines Group from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Sanford C. Bernstein upgraded shares of American Airlines Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $24.00 in a research report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.37.

American Airlines Group Trading Up 4.1 %

NASDAQ AAL opened at $11.32 on Tuesday. The stock has a market cap of $7.44 billion, a PE ratio of 9.93, a P/E/G ratio of 0.21 and a beta of 1.27. American Airlines Group Inc. has a twelve month low of $9.07 and a twelve month high of $19.10. The stock has a fifty day simple moving average of $15.83 and a 200-day simple moving average of $14.46.

American Airlines Group (NASDAQ:AAL) last announced its earnings results on Thursday, January 23rd. The airline reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.47. American Airlines Group had a negative return on equity of 28.56% and a net margin of 1.56%. Research analysts predict that American Airlines Group Inc. will post 2.42 EPS for the current year.

About American Airlines Group

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.