Fifth Third Bancorp Buys 153,369 Shares of American Airlines Group Inc. $AAL

Fifth Third Bancorp boosted its position in shares of American Airlines Group Inc. (NASDAQ:AAL) by 2,448.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 159,634 shares of the airline’s stock after buying an additional 153,369 shares during the quarter. Fifth Third Bancorp’s holdings in American Airlines Group were worth $1,714,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AAL. EverSource Wealth Advisors LLC grew its stake in shares of American Airlines Group by 21.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,276 shares of the airline’s stock worth $66,000 after purchasing an additional 766 shares during the period. NewEdge Advisors LLC grew its position in shares of American Airlines Group by 6.6% during the 2nd quarter. NewEdge Advisors LLC now owns 13,251 shares of the airline’s stock worth $149,000 after buying an additional 823 shares during the period. HB Wealth Management LLC increased its stake in shares of American Airlines Group by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 20,205 shares of the airline’s stock valued at $217,000 after acquiring an additional 871 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of American Airlines Group by 33.1% in the 1st quarter. Root Financial Partners LLC now owns 3,816 shares of the airline’s stock valued at $41,000 after acquiring an additional 949 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in shares of American Airlines Group by 4.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 22,346 shares of the airline’s stock valued at $343,000 after acquiring an additional 954 shares during the period. 52.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AAL shares. Wall Street Zen cut shares of American Airlines Group from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Bank of America boosted their price target on shares of American Airlines Group from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Melius Research cut shares of American Airlines Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $15.00 to $19.00 in a research report on Tuesday, July 7th. The Goldman Sachs Group raised their price objective on American Airlines Group from $10.00 to $15.00 and gave the stock a “sell” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of American Airlines Group in a report on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, ten 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 a consensus rating of “Hold” and a consensus target price of $19.37.

American Airlines Group Stock Down 3.2%

NASDAQ:AAL opened at $14.79 on Thursday. American Airlines Group Inc. has a twelve month low of $10.09 and a twelve month high of $18.79. The business has a 50 day moving average price of $15.29 and a two-hundred day moving average price of $13.71. The company has a market cap of $9.78 billion, a P/E ratio of 47.71 and a beta of 1.32.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Thursday, April 23rd. The airline reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.05. American Airlines Group had a net margin of 0.36% and a negative return on equity of 9.11%. The company had revenue of $13.91 billion during the quarter, compared to analysts’ expectations of $16.13 billion. During the same period last year, the business earned ($0.59) EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that American Airlines Group Inc. will post 0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other American Airlines Group news, COO David Seymour sold 56,456 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $1,016,208.00. Following the transaction, the chief operating officer directly owned 969,033 shares in the company, valued at $17,442,594. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

About American Airlines Group

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.