Arrowstreet Capital Limited Partnership increased its position in American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,779,849 shares of the airline’s stock after buying an additional 299,219 shares during the period. Arrowstreet Capital Limited Partnership owned 0.57% of American Airlines Group worth $42,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of American Airlines Group during the second quarter valued at about $10,917,000. Lido Advisors LLC bought a new position in American Airlines Group in the 2nd quarter valued at about $149,000. Norges Bank acquired a new position in American Airlines Group during the 2nd quarter valued at about $15,133,000. Quadrature Capital Ltd acquired a new position in American Airlines Group during the 2nd quarter valued at about $174,000. Finally, Hsbc Holdings PLC increased its holdings in American Airlines Group by 34.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,509,404 shares of the airline’s stock worth $16,928,000 after purchasing an additional 386,108 shares in the last quarter. 52.44% of the stock is owned by institutional investors.
American Airlines Group Trading Up 3.3%
AAL stock opened at $14.81 on Friday. The firm has a 50 day moving average of $12.76 and a 200-day moving average of $12.25. The firm has a market capitalization of $9.78 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. American Airlines Group Inc. has a 12 month low of $8.50 and a 12 month high of $19.10.
Analyst Ratings Changes
Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of American Airlines Group from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 12th. UBS Group upped their price objective on shares of American Airlines Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Evercore ISI increased their price objective on shares of American Airlines Group from $13.00 to $14.00 and gave the company an “in-line” rating in a research note on Monday, September 29th. Jefferies Financial Group lifted their target price on shares of American Airlines Group from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Finally, Cowen reaffirmed a “buy” rating on shares of American Airlines Group in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.38.
Check Out Our Latest Analysis on AAL
About American Airlines Group
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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