OP Asset Management Ltd purchased a new position in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 81,477 shares of the airline’s stock, valued at approximately $875,000.
Other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new position in American Airlines Group during the fourth quarter worth $31,000. MassMutual Private Wealth & Trust FSB increased its position in shares of American Airlines Group by 102.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,353 shares of the airline’s stock valued at $36,000 after buying an additional 1,188 shares in the last quarter. Center for Financial Planning Inc. increased its position in shares of American Airlines Group by 377.4% in the fourth quarter. Center for Financial Planning Inc. now owns 2,530 shares of the airline’s stock valued at $39,000 after buying an additional 2,000 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of American Airlines Group by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,968 shares of the airline’s stock worth $45,000 after buying an additional 1,733 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of American Airlines Group by 208.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,282 shares of the airline’s stock worth $50,000 after buying an additional 2,217 shares during the last quarter. 52.44% of the stock is owned by hedge funds and other institutional investors.
American Airlines Group Trading Up 0.3%
American Airlines Group stock opened at $17.92 on Tuesday. The stock has a market cap of $11.85 billion, a PE ratio of 57.81 and a beta of 1.35. The stock has a 50-day moving average price of $13.84 and a 200 day moving average price of $13.59. American Airlines Group Inc. has a 52 week low of $10.09 and a 52 week high of $18.05.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Susquehanna lowered their price objective on shares of American Airlines Group from $17.00 to $16.00 and set a “positive” rating on the stock in a research note on Friday, April 24th. BMO Capital Markets lifted their target price on shares of American Airlines Group from $12.00 to $13.50 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Barclays upped their price target on shares of American Airlines Group from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their price objective on shares of American Airlines Group from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company cut their price objective on American Airlines Group from $17.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, March 16th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.47.
Read Our Latest Research Report on American Airlines Group
Insider Buying and Selling at American Airlines Group
In other news, COO David Seymour sold 69,343 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $17.00, for a total value of $1,178,831.00. Following the completion of the transaction, the chief operating officer owned 1,025,489 shares of the company’s stock, valued at $17,433,313. The trade was a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.
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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