M&T Bank Corp Boosts Stock Position in American Airlines Group Inc. (NASDAQ:AAL)

M&T Bank Corp grew its holdings in American Airlines Group Inc. (NASDAQ:AAL) by 18.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,729 shares of the airline’s stock after buying an additional 6,204 shares during the quarter. M&T Bank Corp’s holdings in American Airlines Group were worth $429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAL. Voloridge Investment Management LLC purchased a new stake in shares of American Airlines Group in the fourth quarter valued at approximately $60,190,000. Two Sigma Advisers LP purchased a new stake in shares of American Airlines Group during the fourth quarter worth approximately $42,693,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of American Airlines Group during the fourth quarter worth approximately $40,333,000. Alyeska Investment Group L.P. purchased a new stake in shares of American Airlines Group during the fourth quarter worth approximately $35,141,000. Finally, Norges Bank purchased a new stake in shares of American Airlines Group during the fourth quarter worth approximately $20,696,000. 52.44% of the stock is currently owned by hedge funds and other institutional investors.

American Airlines Group Stock Up 0.8%

Shares of American Airlines Group stock opened at $12.27 on Thursday. American Airlines Group Inc. has a 52 week low of $8.50 and a 52 week high of $19.10. The business’s fifty day simple moving average is $11.45 and its 200-day simple moving average is $12.87. The firm has a market cap of $8.09 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, April 24th. The airline reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.10. American Airlines Group had a negative return on equity of 26.59% and a net margin of 1.26%. The business had revenue of $12.55 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the company posted ($0.34) EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts expect that American Airlines Group Inc. will post 2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AAL has been the subject of several research reports. The Goldman Sachs Group cut American Airlines Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $16.00 to $8.00 in a research report on Tuesday, April 8th. UBS Group boosted their price target on American Airlines Group from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. TD Cowen boosted their price target on American Airlines Group to $13.00 and gave the stock an “unchanged” rating in a research report on Friday, April 25th. Susquehanna dropped their price target on American Airlines Group from $18.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Barclays boosted their price target on American Airlines Group from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.89.

American Airlines Group Company Profile

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.