Granite Investment Partners LLC bought a new position in American Airlines Group, Inc. (NASDAQ:AAL) during the second quarter, Holdings Channel reports. The institutional investor bought 4,250 shares of the airline’s stock, valued at approximately $214,000.

Several other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC purchased a new position in shares of American Airlines Group during the second quarter worth approximately $106,000. First Manhattan Co. increased its position in shares of American Airlines Group by 3.3% in the second quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock worth $119,000 after buying an additional 75 shares during the last quarter. D. Scott Neal Inc. purchased a new position in shares of American Airlines Group during the second quarter worth approximately $120,000. Huntington National Bank increased its position in shares of American Airlines Group by 71.9% in the second quarter. Huntington National Bank now owns 2,629 shares of the airline’s stock worth $132,000 after buying an additional 1,100 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in shares of American Airlines Group by 26.7% in the first quarter. Global X Management Co. LLC now owns 3,528 shares of the airline’s stock worth $149,000 after buying an additional 743 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Shares of American Airlines Group, Inc. (AAL) opened at 48.81 on Tuesday. The stock has a 50 day moving average of $51.02 and a 200-day moving average of $46.86. American Airlines Group, Inc. has a one year low of $33.90 and a one year high of $54.48. The stock has a market capitalization of $23.77 billion, a PE ratio of 12.12 and a beta of 0.96.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Friday, July 28th. The airline reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.05. American Airlines Group had a net margin of 5.02% and a return on equity of 83.58%. The business had revenue of $11.11 billion during the quarter, compared to analyst estimates of $11.08 billion. During the same period in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that American Airlines Group, Inc. will post $5.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, August 10th. American Airlines Group’s dividend payout ratio (DPR) is presently 9.88%.

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A number of brokerages recently commented on AAL. Vetr upgraded shares of American Airlines Group from a “buy” rating to a “strong-buy” rating and set a $53.62 target price for the company in a research note on Tuesday, May 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 price target (up from $49.00) on shares of American Airlines Group in a research report on Monday, July 10th. Atlantic Securities started coverage on shares of American Airlines Group in a research report on Tuesday, June 20th. They issued an “underweight” rating and a $56.00 price target for the company. Bank of America Corporation boosted their price target on shares of American Airlines Group from $40.00 to $42.00 and gave the company an “underperform” rating in a research report on Friday, June 30th. Finally, Barclays PLC reissued an “equal weight” rating on shares of American Airlines Group in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.57.

In other news, EVP Maya Leibman sold 10,000 shares of American Airlines Group stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $47.97, for a total value of $479,700.00. Following the completion of the transaction, the executive vice president now directly owns 161,476 shares of the company’s stock, valued at approximately $7,746,003.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elise R. Eberwein sold 33,400 shares of American Airlines Group stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $49.74, for a total transaction of $1,661,316.00. Following the completion of the transaction, the executive vice president now directly owns 362,368 shares of the company’s stock, valued at $18,024,184.32. The disclosure for this sale can be found here. Insiders sold a total of 197,623 shares of company stock valued at $9,869,666 over the last ninety days. Company insiders own 0.69% of the company’s stock.

About American Airlines Group

American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.

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

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