American Airlines Group Inc. (AAL) Sees Large Decrease in Short Interest
American Airlines Group Inc. (NASDAQ:AAL) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 44,202,372 shares, a decline of 7.9% from the August 15th total of 47,975,964 shares. Approximately 8.4% of the shares of the stock are short sold. Based on an average daily volume of 7,498,276 shares, the days-to-cover ratio is presently 5.9 days.
American Airlines Group (NASDAQ:AAL) opened at 34.67 on Thursday. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 3.28 and a beta of 0.97. The stock’s 50 day moving average price is $36.11 and its 200-day moving average price is $35.46. American Airlines Group has a 12 month low of $24.85 and a 12 month high of $47.09.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Friday, July 22nd. The airline reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.09. The company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.27 billion. American Airlines Group had a return on equity of 107.21% and a net margin of 16.50%. American Airlines Group’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.62 EPS. Equities analysts anticipate that American Airlines Group will post $5.43 EPS for the current fiscal year.
In other American Airlines Group news, EVP Maya Leibman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $36.34, for a total transaction of $363,400.00. Following the completion of the transaction, the executive vice president now owns 196,907 shares of the company’s stock, valued at $7,155,600.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beverly K. Goulet sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $37.50, for a total value of $750,000.00. Following the transaction, the executive vice president now directly owns 268,604 shares of the company’s stock, valued at approximately $10,072,650. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Exane Derivatives boosted its position in shares of American Airlines Group by 105.9% in the first quarter. Exane Derivatives now owns 3,575 shares of the airline’s stock worth $147,000 after buying an additional 1,839 shares in the last quarter. Cribstone Capital Management LLC bought a new position in shares of American Airlines Group during the second quarter worth approximately $108,000. Zions Bancorporation boosted its position in shares of American Airlines Group by 4,368.9% in the first quarter. Zions Bancorporation now owns 4,022 shares of the airline’s stock worth $165,000 after buying an additional 3,932 shares during the period. Westbourne Investment Advisors Inc. bought a new position in shares of American Airlines Group during the second quarter worth approximately $115,000. Finally, Checchi Capital Advisers LLC boosted its position in shares of American Airlines Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,145 shares of the airline’s stock worth $117,000 after buying an additional 37 shares during the period. 74.62% of the stock is currently owned by institutional investors.
Several research analysts have commented on AAL shares. Raymond James Financial Inc. reissued an “outperform” rating on shares of American Airlines Group in a research note on Wednesday, June 15th. Zacks Investment Research downgraded American Airlines Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of American Airlines Group in a research note on Wednesday, June 15th. Bank of America Corp. downgraded American Airlines Group from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 16th. Finally, Credit Suisse Group AG reaffirmed an “underweight” rating on shares of American Airlines Group in a research note on Saturday, June 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. American Airlines Group presently has an average rating of “Hold” and an average target price of $43.44.
About American Airlines Group
American Airlines Group Inc (AAG) is a holding company whose primary business activity is the operation of a network air carrier through its subsidiaries, American Airlines, Inc (American) and its regional subsidiaries, Envoy Aviation Group Inc (Envoy), Piedmont Airlines, Inc (Piedmont) and PSA Airlines, Inc (PSA).
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