Man Group plc trimmed its stake in shares of American Airlines Group Inc (NASDAQ:AAL) by 99.2% during the third quarter, HoldingsChannel.com reports. The firm owned 6,080 shares of the airline’s stock after selling 800,630 shares during the quarter. Man Group plc’s holdings in American Airlines Group were worth $251,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in AAL. Hilltop Holdings Inc. purchased a new position in shares of American Airlines Group in the 3rd quarter worth about $231,000. Rampart Investment Management Company LLC boosted its holdings in shares of American Airlines Group by 96.3% in the 3rd quarter. Rampart Investment Management Company LLC now owns 8,429 shares of the airline’s stock worth $172,398,000 after purchasing an additional 4,136 shares in the last quarter. Advent Capital Management DE purchased a new position in shares of American Airlines Group in the 3rd quarter worth about $413,000. Pacer Advisors Inc. boosted its holdings in shares of American Airlines Group by 14.2% in the 3rd quarter. Pacer Advisors Inc. now owns 39,930 shares of the airline’s stock worth $1,650,000 after purchasing an additional 4,957 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of American Airlines Group by 21.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 584,299 shares of the airline’s stock worth $24,149,000 after purchasing an additional 102,582 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.
AAL has been the subject of a number of research reports. Imperial Capital upped their price objective on American Airlines Group from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, December 4th. They noted that the move was a valuation call. Deutsche Bank upgraded American Airlines Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $47.00 in a report on Wednesday, October 17th. Macquarie set a $45.00 price objective on American Airlines Group and gave the stock a “buy” rating in a report on Monday, October 8th. BidaskClub upgraded American Airlines Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Citigroup boosted their target price on American Airlines Group from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.24.
Shares of NASDAQ AAL traded up $1.70 during midday trading on Thursday, reaching $33.35. The company had a trading volume of 283,605 shares, compared to its average volume of 7,821,419. American Airlines Group Inc has a one year low of $28.81 and a one year high of $57.44. The firm has a market cap of $15.08 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 4.35 and a beta of 1.32.
American Airlines Group (NASDAQ:AAL) last released its earnings results on Thursday, January 24th. The airline reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. American Airlines Group had a return on equity of 568.86% and a net margin of 3.06%. The company had revenue of $10.94 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company posted $0.95 EPS. American Airlines Group’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that American Airlines Group Inc will post 4.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Stockholders of record on Wednesday, February 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. American Airlines Group’s dividend payout ratio (DPR) is presently 8.20%.
In other American Airlines Group news, Director John T. Cahill purchased 25,000 shares of the stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $33.47 per share, with a total value of $836,750.00. Following the transaction, the director now directly owns 6,531 shares of the company’s stock, valued at approximately $218,592.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Benjamin purchased 15,000 shares of the stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $35.69 per share, with a total value of $535,350.00. Following the transaction, the director now directly owns 22,146 shares in the company, valued at $790,390.74. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.
American Airlines Group Profile
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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