Prudential Financial Inc. raised its stake in shares of American Airlines Group Inc. (NASDAQ:AAL) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 817,516 shares of the airline’s stock after buying an additional 32,800 shares during the period. Prudential Financial Inc. owned about 0.15% of American Airlines Group worth $23,143,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Cribstone Capital Management LLC purchased a new stake in American Airlines Group during the second quarter worth $108,000. Checchi Capital Advisers LLC raised its stake in American Airlines Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,145 shares of the airline’s stock worth $117,000 after buying an additional 37 shares during the period. Evercore Wealth Management LLC raised its stake in American Airlines Group by 60.1% in the second quarter. Evercore Wealth Management LLC now owns 4,601 shares of the airline’s stock worth $130,000 after buying an additional 1,727 shares during the period. Exane Derivatives raised its stake in American Airlines Group by 105.9% in the first quarter. Exane Derivatives now owns 3,575 shares of the airline’s stock worth $147,000 after buying an additional 1,839 shares during the period. Finally, Zions Bancorporation raised its stake in American Airlines Group by 4,368.9% in the first quarter. Zions Bancorporation now owns 4,022 shares of the airline’s stock worth $165,000 after buying an additional 3,932 shares during the period. 74.62% of the stock is currently owned by institutional investors.
Shares of American Airlines Group Inc. (NASDAQ:AAL) opened at 35.55 on Friday. The stock has a market cap of $18.84 billion, a P/E ratio of 3.36 and a beta of 0.97. The stock’s 50 day moving average is $36.22 and its 200-day moving average is $35.41. American Airlines Group Inc. has a one year low of $24.85 and a one year high of $47.09.
American Airlines Group (NASDAQ:AAL) last announced its earnings results on Friday, July 22nd. The airline reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.09. The business earned $10.40 billion during the quarter, compared to the consensus estimate of $10.27 billion. American Airlines Group had a net margin of 16.50% and a return on equity of 107.21%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.62 earnings per share. On average, equities analysts forecast that American Airlines Group Inc. will post $5.43 EPS for the current year.
A number of equities analysts have recently commented on AAL shares. Bank of America Corp. lowered shares of American Airlines Group from a “neutral” rating to an “underperform” rating in a report on Thursday, June 16th. Credit Suisse Group AG lowered shares of American Airlines Group from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $47.00 to $28.00 in a report on Wednesday, July 6th. Cowen and Company reissued an “outperform” rating and issued a $43.00 price target on shares of American Airlines Group in a report on Wednesday, August 31st. Vetr raised shares of American Airlines Group from a “buy” rating to a “strong-buy” rating and set a $39.50 price target on the stock in a report on Wednesday. Finally, Buckingham Research reissued a “buy” rating and issued a $49.00 price target (up previously from $44.00) on shares of American Airlines Group in a report on Tuesday, July 26th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. American Airlines Group has an average rating of “Hold” and an average target price of $43.44.
In related news, EVP Beverly K. Goulet sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the transaction, the executive vice president now owns 308,604 shares in the company, valued at approximately $10,801,140. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Maya Leibman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $36.34, for a total transaction of $363,400.00. Following the completion of the transaction, the executive vice president now owns 196,907 shares in the company, valued at approximately $7,155,600.38. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
About American Airlines Group
American Airlines Group Inc (AAG) is a holding company whose primary business activity is the operation of a network air carrier through its subsidiaries, American Airlines, Inc (American) and its regional subsidiaries, Envoy Aviation Group Inc (Envoy), Piedmont Airlines, Inc (Piedmont) and PSA Airlines, Inc (PSA).
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