Assenagon Asset Management S.A. bought a new stake in American Airlines Group Inc. (NASDAQ:AAL – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 630,364 shares of the airline’s stock, valued at approximately $9,663,000. Assenagon Asset Management S.A. owned 0.10% of American Airlines Group at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAL. Root Financial Partners LLC acquired a new position in American Airlines Group in the 3rd quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB lifted its position in American Airlines Group by 102.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,353 shares of the airline’s stock valued at $36,000 after purchasing an additional 1,188 shares during the period. Guerra Advisors Inc acquired a new position in American Airlines Group during the third quarter valued at $37,000. UMB Bank n.a. boosted its holdings in American Airlines Group by 845.1% in the third quarter. UMB Bank n.a. now owns 3,251 shares of the airline’s stock valued at $37,000 after purchasing an additional 2,907 shares during the last quarter. Finally, Bogart Wealth LLC grew its position in American Airlines Group by 35.1% during the 3rd quarter. Bogart Wealth LLC now owns 3,855 shares of the airline’s stock worth $43,000 after purchasing an additional 1,002 shares during the period. Hedge funds and other institutional investors own 52.44% of the company’s stock.
American Airlines Group Trading Down 3.8%
AAL stock opened at $10.30 on Friday. The firm has a 50-day moving average of $12.89 and a two-hundred day moving average of $13.34. American Airlines Group Inc. has a 12 month low of $8.50 and a 12 month high of $16.50. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 60.59 and a beta of 1.22.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on AAL shares. Cantor Fitzgerald set a $17.00 price objective on American Airlines Group in a report on Friday, January 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of American Airlines Group in a research report on Wednesday, January 28th. Argus raised American Airlines Group to a “hold” rating in a report on Wednesday, January 28th. Bank of America upped their price objective on American Airlines Group from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group dropped their price objective on shares of American Airlines Group from $15.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, American Airlines Group has an average rating of “Hold” and a consensus target price of $14.97.
Read Our Latest Stock Analysis on American Airlines Group
American Airlines Group Profile
American Airlines Group Inc is a leading global airline holding company headquartered in Fort Worth, Texas. Formed in December 2013 through the merger of AMR Corporation (parent of American Airlines) and US Airways Group, the company operates one of the world’s largest passenger and cargo networks. Its subsidiaries include American Airlines, which provides mainline service, and American Eagle, a network of regional carriers operating short- and medium-haul routes on behalf of the mainline carrier.
The company offers scheduled air transportation for passengers and cargo to more than 350 destinations in over 50 countries.
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