Pictet Asset Management SA Trims Stock Holdings in American Airlines Group Inc. (NASDAQ:AAL)

Pictet Asset Management SA lowered its position in American Airlines Group Inc. (NASDAQ:AALGet Rating) by 21.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 254,373 shares of the airline’s stock after selling 71,326 shares during the period. Pictet Asset Management SA’s holdings in American Airlines Group were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAL. U S Global Investors Inc. lifted its stake in American Airlines Group by 15.7% in the first quarter. U S Global Investors Inc. now owns 20,750,111 shares of the airline’s stock valued at $378,690,000 after buying an additional 2,822,450 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of American Airlines Group by 108.0% during the first quarter. Neuberger Berman Group LLC now owns 4,887,680 shares of the airline’s stock worth $89,200,000 after purchasing an additional 2,538,066 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of American Airlines Group by 502.0% during the first quarter. The Manufacturers Life Insurance Company now owns 2,986,179 shares of the airline’s stock worth $54,498,000 after purchasing an additional 2,490,121 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of American Airlines Group during the first quarter worth approximately $44,800,000. Finally, Invesco Ltd. raised its stake in shares of American Airlines Group by 23.6% during the first quarter. Invesco Ltd. now owns 7,247,250 shares of the airline’s stock worth $132,261,000 after purchasing an additional 1,382,569 shares during the last quarter. Hedge funds and other institutional investors own 54.06% of the company’s stock.

Insider Activity at American Airlines Group

In related news, EVP Vasu Raja sold 1,851 shares of the stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $13.59, for a total transaction of $25,155.09. Following the sale, the executive vice president now owns 80,006 shares of the company’s stock, valued at $1,087,281.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AAL. Citigroup cut their price target on American Airlines Group from $16.00 to $15.00 in a research note on Monday, October 17th. StockNews.com assumed coverage on American Airlines Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays cut their price objective on American Airlines Group from $17.00 to $14.00 in a research report on Wednesday, October 12th. Bank of America cut their price objective on American Airlines Group from $8.00 to $7.00 and set an “underperform” rating for the company in a research report on Thursday, October 6th. Finally, Cowen cut their price objective on American Airlines Group to $18.00 in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.43.

American Airlines Group Stock Performance

American Airlines Group stock opened at $14.05 on Monday. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -5.42 and a beta of 1.48. American Airlines Group Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $21.42. The stock’s fifty day moving average is $13.51 and its two-hundred day moving average is $14.30.

American Airlines Group (NASDAQ:AALGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The airline reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The company had revenue of $13.46 billion for the quarter, compared to analyst estimates of $13.46 billion. The firm’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.99) EPS. As a group, sell-side analysts forecast that American Airlines Group Inc. will post -0.21 EPS for the current fiscal year.

American Airlines Group Company Profile

(Get Rating)

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, Madrid, Seattle/Tacoma, Sydney, and Tokyo.

See Also

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Institutional Ownership by Quarter for American Airlines Group (NASDAQ:AAL)

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