First Trust Advisors LP increased its holdings in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 58.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,419,706 shares of the airline’s stock after buying an additional 1,267,129 shares during the period. First Trust Advisors LP owned 0.52% of American Airlines Group worth $36,728,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. M&T Bank Corp lifted its stake in shares of American Airlines Group by 818.7% in the 4th quarter. M&T Bank Corp now owns 212,892 shares of the airline’s stock valued at $3,264,000 after purchasing an additional 189,720 shares during the period. Fifth Third Bancorp grew its stake in shares of American Airlines Group by 2,448.0% during the first quarter. Fifth Third Bancorp now owns 159,634 shares of the airline’s stock worth $1,714,000 after purchasing an additional 153,369 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of American Airlines Group during the fourth quarter worth $804,000. Collaborative Fund Advisors LLC bought a new stake in American Airlines Group in the first quarter valued at about $1,653,000. Finally, Hodges Capital Management Inc. bought a new stake in American Airlines Group in the first quarter valued at about $3,034,000. 52.44% of the stock is currently owned by institutional investors and hedge funds.
American Airlines Group Price Performance
Shares of American Airlines Group stock opened at $14.95 on Tuesday. American Airlines Group Inc. has a 1 year low of $10.09 and a 1 year high of $18.79. The business has a 50-day moving average of $15.41 and a two-hundred day moving average of $13.69. The company has a market capitalization of $9.89 billion, a P/E ratio of -30.51 and a beta of 1.32.
Insider Buying and Selling
In other American Airlines Group news, COO David Seymour sold 56,456 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $1,016,208.00. Following the sale, the chief operating officer directly owned 969,033 shares in the company, valued at approximately $17,442,594. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.
Analysts Set New Price Targets
AAL has been the topic of several analyst reports. UBS Group cut their target price on American Airlines Group from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley boosted their target price on American Airlines Group from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. TD Cowen upped their price target on American Airlines Group from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Cantor Fitzgerald set a $24.00 price target on shares of American Airlines Group in a research report on Thursday, July 2nd. Finally, Barclays lifted their price objective on shares of American Airlines Group from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, American Airlines Group has a consensus rating of “Hold” and a consensus target price of $19.03.
View Our Latest Analysis on AAL
About American Airlines Group
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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