Versor Investments LP acquired a new position in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the third quarter, HoldingsChannel.com reports. The fund acquired 36,300 shares of the airline’s stock, valued at approximately $408,000.
Other hedge funds have also modified their holdings of the company. Marshall Wace LLP boosted its holdings in American Airlines Group by 319.4% in the 2nd quarter. Marshall Wace LLP now owns 5,019,492 shares of the airline’s stock worth $56,319,000 after acquiring an additional 3,822,757 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of American Airlines Group by 8.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,779,849 shares of the airline’s stock valued at $42,410,000 after purchasing an additional 299,219 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of American Airlines Group during the third quarter worth $37,533,000. Invesco Ltd. boosted its stake in shares of American Airlines Group by 1.3% in the second quarter. Invesco Ltd. now owns 2,978,006 shares of the airline’s stock valued at $33,413,000 after purchasing an additional 36,877 shares during the period. Finally, HRT Financial LP grew its holdings in American Airlines Group by 3.1% during the 2nd quarter. HRT Financial LP now owns 2,741,383 shares of the airline’s stock valued at $30,758,000 after purchasing an additional 83,653 shares in the last quarter. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
American Airlines Group Trading Down 2.1%
Shares of NASDAQ AAL opened at $14.05 on Friday. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 82.65, a price-to-earnings-growth ratio of 0.54 and a beta of 1.25. American Airlines Group Inc. has a twelve month low of $8.50 and a twelve month high of $16.50. The business has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $13.46.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AAL. UBS Group boosted their price objective on shares of American Airlines Group from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Cantor Fitzgerald set a $17.00 price target on American Airlines Group in a research note on Friday, January 30th. TD Cowen lowered their price objective on American Airlines Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Citigroup restated a “buy” rating on shares of American Airlines Group in a report on Tuesday, February 3rd. Finally, Barclays increased their target price on American Airlines Group from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.19.
View Our Latest Stock Report on AAL
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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