iA Global Asset Management Inc. Invests $1.30 Million in American Airlines Group Inc. (NASDAQ:AAL)

iA Global Asset Management Inc. purchased a new stake in American Airlines Group Inc. (NASDAQ:AAL) during the first quarter, HoldingsChannel.com reports. The firm purchased 84,744 shares of the airline’s stock, valued at approximately $1,301,000.

A number of other institutional investors have also made changes to their positions in the stock. Beaird Harris Wealth Management LLC increased its stake in American Airlines Group by 51.3% in the first quarter. Beaird Harris Wealth Management LLC now owns 2,345 shares of the airline’s stock valued at $36,000 after purchasing an additional 795 shares in the last quarter. Empirical Finance LLC raised its stake in American Airlines Group by 1.4% during the 1st quarter. Empirical Finance LLC now owns 58,573 shares of the airline’s stock worth $899,000 after buying an additional 797 shares during the period. Eudaimonia Partners LLC lifted its holdings in American Airlines Group by 4.2% during the first quarter. Eudaimonia Partners LLC now owns 23,054 shares of the airline’s stock worth $354,000 after acquiring an additional 927 shares in the last quarter. Ackerman Capital Advisors LLC grew its stake in American Airlines Group by 6.5% in the first quarter. Ackerman Capital Advisors LLC now owns 15,661 shares of the airline’s stock valued at $240,000 after acquiring an additional 949 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its holdings in shares of American Airlines Group by 4.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 23,375 shares of the airline’s stock worth $359,000 after acquiring an additional 978 shares in the last quarter. 52.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAL has been the subject of several research analyst reports. Sanford C. Bernstein lowered American Airlines Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $18.00 to $12.00 in a research report on Monday, July 22nd. TD Securities reduced their price target on shares of American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Bank of America dropped their price objective on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. JPMorgan Chase & Co. reduced their target price on shares of American Airlines Group from $21.00 to $15.00 in a research note on Friday, July 26th. Finally, TD Cowen downgraded American Airlines Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $16.00 to $10.00 in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.80.

American Airlines Group Price Performance

AAL traded down $0.50 during trading on Thursday, hitting $10.14. The stock had a trading volume of 47,083,500 shares, compared to its average volume of 34,865,598. The company has a 50 day moving average price of $11.30 and a 200-day moving average price of $13.32. American Airlines Group Inc. has a one year low of $9.76 and a one year high of $16.24. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 0.23 and a beta of 1.44.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings data on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.05. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The business had revenue of $14.33 billion during the quarter, compared to analysts’ expectations of $14.38 billion. During the same quarter in the previous year, the company earned $1.92 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that American Airlines Group Inc. will post 0.96 EPS for the current fiscal year.

About American Airlines Group

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