CIBC World Markets Inc. Grows Holdings in American Airlines Group, Inc. (AAL)
CIBC World Markets Inc. boosted its holdings in American Airlines Group, Inc. (NASDAQ:AAL) by 45.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,023 shares of the airline’s stock after purchasing an additional 18,233 shares during the quarter. CIBC World Markets Inc.’s holdings in American Airlines Group were worth $2,920,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in American Airlines Group in the second quarter worth $106,000. D. Scott Neal Inc. acquired a new position in American Airlines Group in the second quarter worth $120,000. First Manhattan Co. boosted its holdings in American Airlines Group by 3.3% in the second quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock worth $119,000 after purchasing an additional 75 shares during the period. Huntington National Bank boosted its holdings in American Airlines Group by 71.9% in the second quarter. Huntington National Bank now owns 2,629 shares of the airline’s stock worth $132,000 after purchasing an additional 1,100 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in American Airlines Group by 26.7% in the first quarter. Global X Management Co. LLC now owns 3,528 shares of the airline’s stock worth $149,000 after purchasing an additional 743 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Maya Leibman sold 10,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $47.97, for a total transaction of $479,700.00. Following the transaction, the executive vice president now owns 161,476 shares of the company’s stock, valued at $7,746,003.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elise R. Eberwein sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $50.35, for a total value of $2,517,500.00. Following the transaction, the executive vice president now directly owns 312,368 shares in the company, valued at approximately $15,727,728.80. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $57.00 price objective on shares of American Airlines Group in a report on Tuesday, September 5th. Morgan Stanley reduced their price target on shares of American Airlines Group from $52.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target on shares of American Airlines Group in a report on Tuesday, August 22nd. Vetr raised shares of American Airlines Group from a “buy” rating to a “strong-buy” rating and set a $51.52 price target for the company in a report on Monday, August 21st. Finally, Zacks Investment Research downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.21.
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Shares of American Airlines Group, Inc. (NASDAQ AAL) opened at 43.60 on Monday. The company has a market capitalization of $21.23 billion, a PE ratio of 10.82 and a beta of 0.98. The company’s 50 day moving average is $47.59 and its 200-day moving average is $46.75. American Airlines Group, Inc. has a 52 week low of $33.90 and a 52 week high of $54.48.
American Airlines Group (NASDAQ:AAL) last announced its earnings results on Friday, July 28th. The airline reported $1.92 EPS for the quarter, topping the consensus estimate of $1.87 by $0.05. The company had revenue of $11.11 billion for the quarter, compared to analysts’ expectations of $11.08 billion. American Airlines Group had a return on equity of 83.58% and a net margin of 5.02%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, analysts expect that American Airlines Group, Inc. will post $5.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 10th. American Airlines Group’s payout ratio is presently 9.88%.
American Airlines Group Company Profile
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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