Seven Eight Capital LP Purchases 377,267 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Seven Eight Capital LP grew its position in American Airlines Group Inc. (NASDAQ:AAL) by 231.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 540,397 shares of the airline’s stock after buying an additional 377,267 shares during the period. American Airlines Group makes up 0.6% of Seven Eight Capital LP’s portfolio, making the stock its 8th largest position. Seven Eight Capital LP’s holdings in American Airlines Group were worth $6,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in American Airlines Group during the 2nd quarter worth approximately $36,000. Cetera Investment Advisers lifted its position in American Airlines Group by 271.8% in the 1st quarter. Cetera Investment Advisers now owns 187,130 shares of the airline’s stock valued at $2,872,000 after acquiring an additional 136,797 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in American Airlines Group in the 2nd quarter valued at $5,452,000. Spire Wealth Management boosted its stake in American Airlines Group by 583.7% in the 2nd quarter. Spire Wealth Management now owns 81,015 shares of the airline’s stock worth $918,000 after purchasing an additional 69,165 shares during the period. Finally, GAMMA Investing LLC increased its holdings in American Airlines Group by 70.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,885 shares of the airline’s stock worth $78,000 after purchasing an additional 2,836 shares in the last quarter. Institutional investors and hedge funds own 52.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore cut their price target on American Airlines Group from $13.00 to $10.00 in a report on Friday, July 26th. TD Securities cut their target price on American Airlines Group from $10.00 to $7.00 in a research note on Friday, July 26th. Barclays decreased their price target on shares of American Airlines Group from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Redburn Atlantic upgraded shares of American Airlines Group to a “hold” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group cut shares of American Airlines Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $12.00 in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.73.

American Airlines Group Stock Up 3.3 %

AAL opened at $11.17 on Wednesday. American Airlines Group Inc. has a 12-month low of $9.07 and a 12-month high of $16.15. The business has a 50 day moving average of $10.41 and a 200-day moving average of $12.28. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 0.27 and a beta of 1.43.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. American Airlines Group had a negative return on equity of 19.49% and a negative net margin of 0.23%. The business had revenue of $14.33 billion for the quarter, compared to analysts’ expectations of $14.38 billion. During the same quarter in the prior year, the business earned $1.92 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts expect that American Airlines Group Inc. will post 1.06 earnings per share for the current 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.