Assetmark Inc. Buys New Stake in American Airlines Group Inc. (NASDAQ:AAL)

Assetmark Inc. acquired a new stake in American Airlines Group Inc. (NASDAQ:AAL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,808 shares of the airline’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP increased its holdings in shares of American Airlines Group by 208.5% in the fourth quarter. Elequin Capital LP now owns 1,749 shares of the airline’s stock valued at $30,000 after purchasing an additional 1,182 shares during the period. Bogart Wealth LLC increased its stake in American Airlines Group by 1,300.0% in the 1st quarter. Bogart Wealth LLC now owns 2,800 shares of the airline’s stock valued at $30,000 after buying an additional 2,600 shares during the period. Golden State Wealth Management LLC raised its position in American Airlines Group by 121.4% during the 1st quarter. Golden State Wealth Management LLC now owns 3,117 shares of the airline’s stock worth $33,000 after buying an additional 1,709 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in American Airlines Group during the fourth quarter worth $42,000. Finally, Cullen Frost Bankers Inc. raised its position in American Airlines Group by 10,110.4% in the first quarter. Cullen Frost Bankers Inc. now owns 4,901 shares of the airline’s stock worth $52,000 after acquiring an additional 4,853 shares in the last quarter. Hedge funds and other institutional investors own 52.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AAL shares. Sanford C. Bernstein upped their target price on American Airlines Group from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. Raymond James Financial reduced their target price on American Airlines Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group cut shares of American Airlines Group from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $16.00 to $8.00 in a research report on Tuesday, April 8th. Bank of America lifted their price target on shares of American Airlines Group from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Finally, TD Cowen upped their target price on shares of American Airlines Group to $13.00 and gave the company an “unchanged” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.76.

American Airlines Group Price Performance

NASDAQ AAL opened at $11.64 on Wednesday. The company’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $12.26. American Airlines Group Inc. has a 12 month low of $8.50 and a 12 month high of $19.10. The firm has a market capitalization of $7.68 billion, a PE ratio of 14.55, a P/E/G ratio of 2.55 and a beta of 1.43.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings data on Thursday, July 24th. The airline reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.16. American Airlines Group had a negative return on equity of 24.55% and a net margin of 1.05%. The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $14.27 billion. During the same period last year, the company posted $1.09 EPS. The company’s revenue was up .4% compared to the same quarter last year. Sell-side analysts anticipate that American Airlines Group Inc. will post 2.42 earnings per share for the current fiscal year.

American Airlines Group 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.