Shell Asset Management Co. Sells 1,527 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Posted by Defense World Staff on May 13th, 2023

Shell Asset Management Co. decreased its position in American Airlines Group Inc. (NASDAQ:AAL – Get Rating) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,520 shares of the airline’s stock after selling 1,527 shares during the quarter. Shell Asset Management Co.’s holdings in American Airlines Group were worth $96,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of American Airlines Group by 12.8% in the first quarter. Raymond James & Associates now owns 143,373 shares of the airline’s stock worth $2,617,000 after buying an additional 16,316 shares during the period. American Century Companies Inc. raised its stake in shares of American Airlines Group by 14.1% in the first quarter. American Century Companies Inc. now owns 27,651 shares of the airline’s stock worth $505,000 after buying an additional 3,421 shares during the period. US Bancorp DE raised its stake in shares of American Airlines Group by 11.0% in the first quarter. US Bancorp DE now owns 20,747 shares of the airline’s stock worth $378,000 after buying an additional 2,064 shares during the period. MetLife Investment Management LLC raised its stake in shares of American Airlines Group by 23.1% in the first quarter. MetLife Investment Management LLC now owns 176,047 shares of the airline’s stock worth $3,213,000 after buying an additional 32,986 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of American Airlines Group by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,668 shares of the airline’s stock worth $1,582,000 after buying an additional 5,393 shares during the period. Institutional investors own 54.84% of the company’s stock.

American Airlines Group Stock Performance

Shares of American Airlines Group stock opened at $14.02 on Friday. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 5.54 and a beta of 1.53. The stock has a 50 day moving average price of $14.06 and a 200-day moving average price of $14.56. American Airlines Group Inc. has a one year low of $11.65 and a one year high of $18.22.

American Airlines Group (NASDAQ:AAL – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The airline reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. American Airlines Group had a negative return on equity of 26.84% and a net margin of 3.39%. The firm had revenue of $12.19 billion during the quarter, compared to analyst estimates of $12.20 billion. During the same period last year, the company earned ($2.32) EPS. American Airlines Group’s quarterly revenue was up 37.0% compared to the same quarter last year. Sell-side analysts predict that American Airlines Group Inc. will post 2.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AAL. JPMorgan Chase & Co. upgraded American Airlines Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $29.00 in a research report on Monday, May 8th. Evercore ISI increased their target price on American Airlines Group to $17.00 in a research report on Friday, January 13th. Morgan Stanley increased their target price on American Airlines Group from $19.00 to $20.00 in a research report on Friday, April 28th. The Goldman Sachs Group cut their target price on American Airlines Group from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, April 12th. Finally, Redburn Partners upgraded American Airlines Group from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.75.

Insider Buying and Selling

In related news, SVP Angela Owens sold 21,984 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $13.79, for a total transaction of $303,159.36. Following the completion of the sale, the senior vice president now directly owns 59,830 shares of the company’s stock, valued at approximately $825,055.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.

About American Airlines Group

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American Airlines Group, Inc is a holding company, which engages in the operation of a network carrier through its principal wholly-owned mainline operating subsidiary, American. The firm offers air transportation for passengers and cargo. It operates through the following geographical segments: Department of Transportation Domestic, Department of Transportation Latin America, Department of Transportation Atlantic, and Department of Transportation Pacific.