Deutsche Bank AG bought a new position in American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 94,568 shares of the airline’s stock, valued at approximately $1,709,000.
Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of American Airlines Group by 1.3% in the 2nd quarter. Invesco Ltd. now owns 2,978,006 shares of the airline’s stock worth $33,413,000 after purchasing an additional 36,877 shares during the period. Brown Advisory Inc. boosted its stake in American Airlines Group by 42.6% during the second quarter. Brown Advisory Inc. now owns 45,358 shares of the airline’s stock worth $509,000 after buying an additional 13,539 shares during the period. California Public Employees Retirement System boosted its stake in American Airlines Group by 5.0% during the second quarter. California Public Employees Retirement System now owns 1,164,443 shares of the airline’s stock worth $13,065,000 after buying an additional 55,059 shares during the period. NewEdge Advisors LLC increased its position in American Airlines Group by 6.6% during the second quarter. NewEdge Advisors LLC now owns 13,251 shares of the airline’s stock valued at $149,000 after acquiring an additional 823 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of American Airlines Group by 34.4% in the second quarter. Sei Investments Co. now owns 1,315,532 shares of the airline’s stock valued at $14,760,000 after acquiring an additional 336,993 shares during the period. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
American Airlines Group Price Performance
Shares of American Airlines Group stock opened at $13.64 on Friday. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of -27.84 and a beta of 1.34. The firm’s 50-day moving average is $15.65 and its two-hundred day moving average is $13.70. American Airlines Group Inc. has a 1 year low of $10.09 and a 1 year high of $18.79.
Insiders Place Their Bets
In other American Airlines Group news, COO David Seymour sold 56,456 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $1,016,208.00. Following the sale, the chief operating officer owned 969,033 shares of the company’s stock, valued at approximately $17,442,594. This trade represents a 5.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Angela Owens sold 40,077 shares of American Airlines Group stock in a transaction on Friday, July 31st. The shares were sold at an average price of $15.26, for a total value of $611,575.02. Following the completion of the transaction, the senior vice president owned 178,799 shares in the company, valued at $2,728,472.74. This represents a 18.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 205,044 shares of company stock valued at $3,407,451. 0.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on AAL. UBS Group lowered their target price on shares of American Airlines Group from $21.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 27th. Cantor Fitzgerald set a $24.00 price objective on shares of American Airlines Group in a research report on Thursday, July 2nd. Wells Fargo & Company reissued a “market perform” rating on shares of American Airlines Group in a research note on Tuesday, June 30th. Bank of America boosted their target price on American Airlines Group from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group upped their target price on American Airlines Group from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, June 24th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Airlines Group presently has an average rating of “Hold” and a consensus target price of $18.86.
Get Our Latest Research Report on American Airlines Group
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.
See Also
- Five stocks we like better than American Airlines Group
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
Want to see what other hedge funds are holding AAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Airlines Group Inc. (NASDAQ:AAL – Free Report).
Receive News & Ratings for American Airlines Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Airlines Group and related companies with MarketBeat.com's FREE daily email newsletter.
