Versor Investments LP acquired a new position in American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 36,300 shares of the airline’s stock, valued at approximately $408,000.
Several other hedge funds have also recently added to or reduced their stakes in AAL. Marshall Wace LLP lifted its holdings in shares of American Airlines Group by 319.4% in the second quarter. Marshall Wace LLP now owns 5,019,492 shares of the airline’s stock valued at $56,319,000 after purchasing an additional 3,822,757 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in American Airlines Group by 8.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,779,849 shares of the airline’s stock valued at $42,410,000 after buying an additional 299,219 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in American Airlines Group during the 3rd quarter valued at $37,533,000. Invesco Ltd. increased its position in American Airlines Group by 1.3% during the second quarter. Invesco Ltd. now owns 2,978,006 shares of the airline’s stock worth $33,413,000 after buying an additional 36,877 shares in the last quarter. Finally, HRT Financial LP raised its holdings in shares of American Airlines Group by 3.1% in the second quarter. HRT Financial LP now owns 2,741,383 shares of the airline’s stock worth $30,758,000 after acquiring an additional 83,653 shares during the last quarter. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
American Airlines Group Stock Down 2.1%
Shares of NASDAQ AAL opened at $14.05 on Friday. The stock has a market capitalization of $9.27 billion, a PE ratio of 82.65, a P/E/G ratio of 0.54 and a beta of 1.25. The firm has a fifty day moving average of $15.06 and a 200-day moving average of $13.46. American Airlines Group Inc. has a 52-week low of $8.50 and a 52-week high of $16.50.
Wall Street Analyst Weigh In
A number of research firms recently commented on AAL. Bank of America increased their price objective on American Airlines Group from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price target on shares of American Airlines Group in a report on Wednesday, January 28th. UBS Group upped their price objective on shares of American Airlines Group from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Barclays lifted their target price on shares of American Airlines Group from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Finally, Argus upgraded American Airlines Group to a “hold” rating in a report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.19.
Read Our Latest Stock Report on AAL
American Airlines Group Company Profile
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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