Wedbush Securities Inc. acquired a new position in American Airlines Group Inc (NASDAQ:AAL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,131 shares of the airline’s stock, valued at approximately $298,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of American Airlines Group in the second quarter worth $25,000. NEXT Financial Group Inc grew its stake in American Airlines Group by 4,545.5% during the second quarter. NEXT Financial Group Inc now owns 1,022 shares of the airline’s stock valued at $33,000 after acquiring an additional 1,000 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in American Airlines Group by 69.4% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 1,067 shares of the airline’s stock valued at $34,000 after acquiring an additional 437 shares in the last quarter. Howe & Rusling Inc. purchased a new position in American Airlines Group during the first quarter valued at $39,000. Finally, CWM LLC purchased a new position in American Airlines Group during the first quarter valued at $43,000. 78.83% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the stock. Cowen reaffirmed an “outperform” rating and set a $41.00 target price (down from $42.00) on shares of American Airlines Group in a research note on Monday, April 29th. Credit Suisse Group cut shares of American Airlines Group from a “neutral” rating to an “underperform” rating and cut their target price for the company from $32.00 to $30.00 in a research note on Monday, July 8th. ValuEngine cut shares of American Airlines Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Standpoint Research assumed coverage on shares of American Airlines Group in a research note on Wednesday, June 5th. They set a “buy” rating for the company. Finally, Morgan Stanley cut shares of American Airlines Group from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $40.00 to $26.00 in a research note on Monday, May 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. American Airlines Group currently has a consensus rating of “Hold” and an average target price of $41.19.
American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings data on Thursday, July 25th. The airline reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.05. American Airlines Group had a net margin of 3.35% and a negative return on equity of 588.10%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.98 billion. During the same period last year, the company posted $1.63 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that American Airlines Group Inc will post 4.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. American Airlines Group’s payout ratio is currently 8.79%.
In other news, Director Ray M. Robinson sold 6,930 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $29.11, for a total value of $201,732.30. Following the completion of the sale, the director now owns 29,754 shares in the company, valued at approximately $866,138.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO W Douglas Parker bought 50,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of $28.09 per share, with a total value of $1,404,500.00. Following the acquisition, the chief executive officer now directly owns 2,201,636 shares in the company, valued at approximately $61,843,955.24. The disclosure for this purchase can be found here. Insiders acquired a total of 99,000 shares of company stock valued at $2,787,070 over the last three months. Corporate insiders own 0.86% of the company’s stock.
American Airlines Group Company Profile
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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