BlackRock Inc. trimmed its stake in shares of American Airlines Group Inc (NASDAQ:AAL) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,628,263 shares of the airline’s stock after selling 430,903 shares during the quarter. BlackRock Inc. owned approximately 0.05% of American Airlines Group worth $737,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of American Airlines Group during the second quarter worth about $25,000. NEXT Financial Group Inc raised its position in shares of American Airlines Group by 4,545.5% during the second quarter. NEXT Financial Group Inc now owns 1,022 shares of the airline’s stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Westside Investment Management Inc. bought a new position in shares of American Airlines Group during the second quarter worth about $58,000. Salomon & Ludwin LLC bought a new position in shares of American Airlines Group during the second quarter worth about $65,000. Finally, WealthStone Inc. bought a new position in shares of American Airlines Group during the second quarter worth about $68,000. Institutional investors own 80.23% of the company’s stock.
Shares of AAL stock opened at $30.76 on Friday. The company has a market cap of $13.66 billion, a P/E ratio of 6.76, a PEG ratio of 2.04 and a beta of 1.69. The stock has a 50 day simple moving average of $28.35 and a two-hundred day simple moving average of $30.03. The company has a debt-to-equity ratio of 135.16, a quick ratio of 0.40 and a current ratio of 0.49. American Airlines Group Inc has a fifty-two week low of $24.23 and a fifty-two week high of $40.58.
American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, October 24th. The airline reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The business had revenue of $11.91 billion during the quarter, compared to the consensus estimate of $11.93 billion. American Airlines Group had a negative return on equity of 1,294.15% and a net margin of 3.50%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. On average, research analysts predict that American Airlines Group Inc will post 4.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. American Airlines Group’s payout ratio is currently 8.79%.
In other news, Director James F. Albaugh acquired 10,000 shares of American Airlines Group stock in a transaction on Monday, October 28th. The stock was purchased at an average price of $31.41 per share, with a total value of $314,100.00. Following the completion of the purchase, the director now owns 36,091 shares of the company’s stock, valued at approximately $1,133,618.31. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Robert D. Isom, Jr. acquired 2,500 shares of American Airlines Group stock in a transaction on Thursday, August 29th. The stock was purchased at an average cost of $26.34 per share, with a total value of $65,850.00. Following the purchase, the president now directly owns 771,271 shares of the company’s stock, valued at approximately $20,315,278.14. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.
A number of brokerages have recently issued reports on AAL. Goldman Sachs Group downgraded American Airlines Group to a “neutral” rating in a research report on Wednesday. Berenberg Bank set a $35.00 price objective on American Airlines Group and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Bank of America downgraded American Airlines Group to a “hold” rating and set a $31.00 price objective for the company. in a research report on Monday, September 23rd. Citigroup began coverage on American Airlines Group in a research report on Thursday, October 31st. They set a “sell” rating and a $27.00 price objective for the company. Finally, BidaskClub downgraded American Airlines Group from a “buy” rating to a “hold” rating in a research report on Thursday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. American Airlines Group has an average rating of “Hold” and an average price target of $37.00.
About American Airlines Group
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, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and 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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