Seven Eight Capital LP Acquires 106,142 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Seven Eight Capital LP lifted its holdings in shares of American Airlines Group Inc. (NASDAQ:AAL) by 186.3% in the first quarter, Holdings Channel.com reports. The fund owned 163,130 shares of the airline’s stock after purchasing an additional 106,142 shares during the quarter. Seven Eight Capital LP’s holdings in American Airlines Group were worth $2,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its holdings in American Airlines Group by 21.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,515 shares of the airline’s stock valued at $237,000 after purchasing an additional 3,221 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in American Airlines Group by 15.2% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 38,500 shares of the airline’s stock valued at $529,000 after purchasing an additional 5,067 shares during the last quarter. Jessup Wealth Management Inc bought a new position in American Airlines Group during the 4th quarter valued at about $177,000. Raymond James Financial Services Advisors Inc. lifted its holdings in American Airlines Group by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 189,050 shares of the airline’s stock valued at $2,598,000 after purchasing an additional 11,746 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in American Airlines Group by 7,871.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,762,081 shares of the airline’s stock valued at $24,211,000 after purchasing an additional 1,739,977 shares during the last quarter. 52.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on AAL shares. Jefferies Financial Group downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $12.00 in a report on Wednesday, May 29th. Citigroup lowered their price objective on shares of American Airlines Group from $20.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, May 31st. HSBC started coverage on shares of American Airlines Group in a research report on Monday, May 13th. They issued a “buy” rating and a $17.90 price objective for the company. Morgan Stanley lowered their price objective on shares of American Airlines Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. Finally, Bank of America lowered their price objective on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, American Airlines Group presently has an average rating of “Hold” and an average price target of $15.03.

American Airlines Group Stock Down 2.0 %

NASDAQ AAL traded down $0.21 during trading on Tuesday, reaching $10.48. 30,412,198 shares of the stock traded hands, compared to its average volume of 34,045,797. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.22 and a beta of 1.44. The stock’s 50-day moving average price is $11.87 and its 200 day moving average price is $13.49. American Airlines Group Inc. has a fifty-two week low of $10.34 and a fifty-two week high of $17.32.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings data on Thursday, April 25th. The airline reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The firm had revenue of $12.57 billion for the quarter, compared to analyst estimates of $12.60 billion. American Airlines Group had a net margin of 0.94% and a negative return on equity of 31.65%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts anticipate that American Airlines Group Inc. will post 1.78 EPS for the current fiscal year.

About American Airlines Group

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.