Wedmont Private Capital Takes Position in American Airlines Group Inc. (NASDAQ:AAL)

Wedmont Private Capital bought a new stake in American Airlines Group Inc. (NASDAQ:AAL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,774 shares of the airline’s stock, valued at approximately $115,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of American Airlines Group during the 4th quarter worth approximately $22,819,000. Vanguard Group Inc. raised its position in American Airlines Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 76,177,845 shares of the airline’s stock worth $1,169,330,000 after acquiring an additional 806,770 shares in the last quarter. SG Americas Securities LLC lifted its stake in American Airlines Group by 132.8% in the second quarter. SG Americas Securities LLC now owns 147,877 shares of the airline’s stock valued at $1,675,000 after acquiring an additional 598,941 shares during the last quarter. Rokos Capital Management LLP bought a new position in shares of American Airlines Group in the 1st quarter valued at about $6,289,000. Finally, Castle Hook Partners LP acquired a new position in shares of American Airlines Group during the 1st quarter worth about $5,626,000. Institutional investors own 52.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAL. Bank of America lowered their price target on American Airlines Group from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Jefferies Financial Group cut American Airlines Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $12.00 in a research note on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on American Airlines Group from $21.00 to $15.00 in a report on Friday, July 26th. Morgan Stanley decreased their price objective on shares of American Airlines Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 3rd. Finally, Barclays cut their target price on shares of American Airlines Group from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.80.

American Airlines Group Trading Up 2.1 %

NASDAQ AAL opened at $9.81 on Wednesday. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.21 and a beta of 1.44. American Airlines Group Inc. has a 1-year low of $9.07 and a 1-year high of $16.15. The company has a 50 day moving average of $10.81 and a 200-day moving average of $13.09.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.05. The firm had revenue of $14.33 billion during the quarter, compared to analysts’ expectations of $14.38 billion. American Airlines Group had a negative return on equity of 19.49% and a negative net margin of 0.23%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. On average, equities research analysts forecast that American Airlines Group Inc. will post 0.96 earnings per share for the current year.

American Airlines Group Company Profile

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.