Cim Investment Management Inc. Sells 935 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Cim Investment Management Inc. cut its holdings in American Airlines Group Inc. (NASDAQ:AAL) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 34,819 shares of the airline’s stock after selling 935 shares during the period. Cim Investment Management Inc.’s holdings in American Airlines Group were worth $391,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in American Airlines Group by 56.2% during the third quarter. Blue Trust Inc. now owns 2,533 shares of the airline’s stock valued at $29,000 after purchasing an additional 911 shares during the last quarter. UMB Bank n.a. grew its stake in American Airlines Group by 404.3% in the 2nd quarter. UMB Bank n.a. now owns 2,824 shares of the airline’s stock valued at $32,000 after buying an additional 2,264 shares during the last quarter. ORG Partners LLC bought a new position in American Airlines Group in the 2nd quarter worth $36,000. Sentry Investment Management LLC acquired a new position in American Airlines Group during the 2nd quarter worth $36,000. Finally, First Command Advisory Services Inc. acquired a new position in American Airlines Group during the 2nd quarter worth $43,000. 52.44% of the stock is owned by institutional investors and hedge funds.

American Airlines Group Stock Down 1.9 %

Shares of NASDAQ AAL opened at $17.24 on Friday. American Airlines Group Inc. has a 12-month low of $9.07 and a 12-month high of $18.20. The firm’s 50-day simple moving average is $13.95 and its 200 day simple moving average is $11.93. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, October 24th. The airline reported $0.30 EPS for the quarter, beating the consensus estimate of $0.16 by $0.14. American Airlines Group had a net margin of 0.51% and a negative return on equity of 18.62%. The business had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.50 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. American Airlines Group’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that American Airlines Group Inc. will post 1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAL shares. Barclays lifted their price objective on American Airlines Group from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their price target on American Airlines Group from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $15.00 price target on shares of American Airlines Group in a report on Friday, November 15th. Susquehanna raised their price objective on shares of American Airlines Group from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Redburn Atlantic upgraded shares of American Airlines Group to a “hold” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.99.

American Airlines Group Profile

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.