Envestnet Portfolio Solutions Inc. Purchases New Shares in American Airlines Group Inc. (NASDAQ:AAL)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of American Airlines Group Inc. (NASDAQ:AAL) during the second quarter, Holdings Channel.com reports. The fund purchased 481,224 shares of the airline’s stock, valued at approximately $5,452,000.

A number of other large investors also recently made changes to their positions in AAL. Cetera Investment Advisers raised its position in American Airlines Group by 271.8% in the first quarter. Cetera Investment Advisers now owns 187,130 shares of the airline’s stock worth $2,872,000 after acquiring an additional 136,797 shares during the period. GAMMA Investing LLC bought a new stake in American Airlines Group in the fourth quarter worth about $38,000. Federated Hermes Inc. increased its stake in shares of American Airlines Group by 32.2% in the fourth quarter. Federated Hermes Inc. now owns 4,114 shares of the airline’s stock worth $57,000 after purchasing an additional 1,003 shares in the last quarter. Virtu Financial LLC increased its stake in shares of American Airlines Group by 529.8% in the fourth quarter. Virtu Financial LLC now owns 80,330 shares of the airline’s stock worth $1,104,000 after purchasing an additional 67,576 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in shares of American Airlines Group in the fourth quarter worth about $1,991,000. 52.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Securities reduced their target price on shares of American Airlines Group from $10.00 to $7.00 in a research note on Friday, July 26th. Jefferies Financial Group downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $12.00 in a research note on Wednesday, May 29th. TD Cowen downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $16.00 to $10.00 in a research note on Wednesday, July 17th. HSBC started coverage on shares of American Airlines Group in a research note on Monday, May 13th. They issued a “buy” rating and a $17.90 target price for the company. Finally, Sanford C. Bernstein lowered shares of American Airlines Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $18.00 to $12.00 in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.80.

American Airlines Group Stock Up 3.7 %

Shares of NASDAQ AAL traded up $0.36 during midday trading on Thursday, reaching $10.10. The company had a trading volume of 18,284,555 shares, compared to its average volume of 34,657,063. The stock has a market cap of $6.63 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.21 and a beta of 1.44. American Airlines Group Inc. has a one year low of $9.07 and a one year high of $16.15. The firm’s fifty day moving average price is $10.74 and its 200-day moving average price is $13.03.

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

American Airlines Group 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.