KLP Kapitalforvaltning AS boosted its position in shares of American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 19.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,800 shares of the airline’s stock after purchasing an additional 5,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in American Airlines Group were worth $413,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAL. Valeo Financial Advisors LLC purchased a new position in shares of American Airlines Group during the 2nd quarter valued at $218,000. 111 Capital purchased a new position in shares of American Airlines Group during the 2nd quarter valued at $488,000. QRG Capital Management Inc. boosted its holdings in American Airlines Group by 2.5% in the second quarter. QRG Capital Management Inc. now owns 65,734 shares of the airline’s stock worth $738,000 after purchasing an additional 1,630 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in American Airlines Group in the second quarter worth $65,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in American Airlines Group in the second quarter worth $141,000. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
American Airlines Group Price Performance
AAL opened at $11.86 on Friday. American Airlines Group Inc. has a one year low of $8.50 and a one year high of $19.10. The company’s 50 day simple moving average is $12.45 and its 200-day simple moving average is $11.53. The stock has a market capitalization of $7.83 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 3.83 and a beta of 1.36.
Analysts Set New Price Targets
AAL has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price objective on shares of American Airlines Group from $8.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. boosted their target price on shares of American Airlines Group from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Evercore ISI boosted their target price on shares of American Airlines Group from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Monday, September 29th. Bank of America upped their price objective on shares of American Airlines Group from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of American Airlines Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, American Airlines Group presently has a consensus rating of “Moderate Buy” and an average target price of $16.59.
Read Our Latest Stock Analysis on AAL
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.
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