A.R.T. Advisors LLC Takes $1.19 Million Position in American Airlines Group Inc (NASDAQ:AAL)

A.R.T. Advisors LLC acquired a new position in American Airlines Group Inc (NASDAQ:AAL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,540 shares of the airline’s stock, valued at approximately $1,192,000.

Several other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in American Airlines Group in the 2nd quarter valued at $25,000. NEXT Financial Group Inc increased its stake in shares of American Airlines Group by 4,545.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,022 shares of the airline’s stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of American Airlines Group by 69.4% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 1,067 shares of the airline’s stock worth $34,000 after purchasing an additional 437 shares during the period. Westside Investment Management Inc. purchased a new position in shares of American Airlines Group during the 2nd quarter worth $58,000. Finally, Manchester Financial Inc. purchased a new position in shares of American Airlines Group during the 2nd quarter worth $101,000. 79.07% of the stock is owned by institutional investors and hedge funds.

AAL has been the subject of a number of research analyst reports. BidaskClub upgraded American Airlines Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Standpoint Research initiated coverage on American Airlines Group in a report on Wednesday, June 5th. They set a “buy” rating for the company. Bank of America cut American Airlines Group to a “hold” rating and set a $31.00 target price for the company. in a report on Monday, September 23rd. Macquarie lowered American Airlines Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $34.00 in a research report on Monday, July 29th. Finally, Berenberg Bank began coverage on American Airlines Group in a research report on Friday, September 6th. They issued a “buy” rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.29.

In related news, Director Michael J. Embler bought 4,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $28.18 per share, with a total value of $112,720.00. Following the completion of the transaction, the director now directly owns 30,969 shares of the company’s stock, valued at $872,706.42. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Robert D. Isom, Jr. purchased 2,500 shares of American Airlines Group stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average cost of $26.34 per share, with a total value of $65,850.00. Following the acquisition, the president now directly owns 771,271 shares of the company’s stock, valued at approximately $20,315,278.14. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by insiders.

American Airlines Group stock opened at $27.01 on Friday. American Airlines Group Inc has a 1-year low of $24.23 and a 1-year high of $41.96. The company has a market cap of $12.22 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.94 and a beta of 1.72. The stock’s 50 day moving average price is $27.29 and its 200 day moving average price is $30.88.

American Airlines Group (NASDAQ:AAL) last posted its earnings results on Thursday, July 25th. The airline reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.05. American Airlines Group had a negative return on equity of 588.10% and a net margin of 3.35%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same period in the previous year, the business earned $1.63 earnings per share. American Airlines Group’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that American Airlines Group Inc will post 4.9 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for American Airlines Group (NASDAQ:AAL)

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