Pinebridge Investments L.P. Sells 31,432 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Pinebridge Investments L.P. reduced its stake in American Airlines Group Inc. (NASDAQ:AAL) by 92.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,531 shares of the airline’s stock after selling 31,432 shares during the period. Pinebridge Investments L.P.’s holdings in American Airlines Group were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of American Airlines Group by 25.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 60,672 shares of the airline’s stock worth $1,287,000 after acquiring an additional 12,493 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of American Airlines Group by 86.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,351 shares of the airline’s stock worth $29,000 after acquiring an additional 625 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of American Airlines Group by 79.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 105,052 shares of the airline’s stock worth $2,228,000 after acquiring an additional 46,562 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of American Airlines Group by 2.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 716,030 shares of the airline’s stock worth $15,187,000 after acquiring an additional 14,051 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of American Airlines Group by 7.9% in the 2nd quarter. Toronto Dominion Bank now owns 215,780 shares of the airline’s stock worth $4,576,000 after acquiring an additional 15,710 shares in the last quarter. Institutional investors own 56.31% of the company’s stock.

Several research firms have issued reports on AAL. The Goldman Sachs Group downgraded American Airlines Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $19.00 to $18.00 in a report on Wednesday, October 6th. Zacks Investment Research downgraded American Airlines Group from a “hold” rating to a “sell” rating and set a $19.00 price objective on the stock. in a report on Wednesday, December 22nd. Citigroup reduced their price objective on American Airlines Group from $21.50 to $20.50 and set a “neutral” rating on the stock in a report on Tuesday, October 26th. Finally, Morgan Stanley raised American Airlines Group from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $23.00 to $21.00 in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.77.

AAL opened at $18.49 on Friday. American Airlines Group Inc. has a 12 month low of $15.02 and a 12 month high of $26.09. The company has a fifty day simple moving average of $18.64 and a 200 day simple moving average of $19.68. The stock has a market cap of $11.97 billion, a P/E ratio of -3.36 and a beta of 1.66.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings data on Wednesday, October 20th. The airline reported ($0.99) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.04) by $0.05. The firm had revenue of $9 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the company earned ($5.54) EPS. American Airlines Group’s quarterly revenue was up 183.6% on a year-over-year basis. On average, research analysts predict that American Airlines Group Inc. will post -8.59 earnings per share for the current year.

American Airlines Group Company Profile

American Airlines Group, Inc is a holding company, which engages in the operation of a network carrier through its principal wholly-owned mainline operating subsidiary, American. The firm offers air transportation for passengers and cargo. It operates through the following geographical segments: Department of Transportation Domestic; Department of Transportation Latin America; Department of Transportation Atlantic; and Department of Transportation Pacific.

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

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