American Airlines Group Inc. (AAL) Sees Significant Decline in Short Interest
American Airlines Group Inc. (NASDAQ:AAL) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 36,602,489 shares, a decline of 4.6% from the September 15th total of 38,354,934 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average trading volume of 7,099,225 shares, the short-interest ratio is presently 5.2 days.
AAL has been the subject of several recent research reports. Bank of America Corp. lowered American Airlines Group from a “neutral” rating to an “underperform” rating in a report on Thursday, June 16th. Credit Suisse Group AG reissued an “underweight” rating on shares of American Airlines Group in a report on Saturday, June 25th. Deutsche Bank AG raised American Airlines Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, July 12th. Buckingham Research reissued a “buy” rating and set a $44.00 price target on shares of American Airlines Group in a report on Sunday, July 17th. Finally, Cowen and Company boosted their price target on American Airlines Group from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 25th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.07.
Shares of American Airlines Group (NASDAQ:AAL) opened at 39.24 on Friday. The firm’s 50-day moving average price is $36.88 and its 200-day moving average price is $34.97. American Airlines Group has a 12 month low of $24.85 and a 12 month high of $47.09. The stock has a market capitalization of $20.79 billion, a P/E ratio of 3.71 and a beta of 0.97.
American Airlines Group (NASDAQ:AAL) last posted its earnings results on Friday, July 22nd. The airline reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.09. American Airlines Group had a return on equity of 107.21% and a net margin of 16.50%. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same period last year, the firm earned $2.62 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that American Airlines Group will post $5.44 EPS for the current 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 sale, the executive vice president now owns 196,907 shares of the company’s stock, valued at $7,155,600.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beverly K. Goulet sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $37.50, for a total value of $750,000.00. Following the sale, 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 large investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its stake in American Airlines Group by 28.6% in the second quarter. Primecap Management Co. CA now owns 35,432,161 shares of the airline’s stock worth $1,003,084,000 after buying an additional 7,883,585 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in American Airlines Group by 146.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,296,233 shares of the airline’s stock worth $178,246,000 after buying an additional 3,745,807 shares during the period. Janus Capital Management LLC boosted its stake in American Airlines Group by 322.1% in the second quarter. Janus Capital Management LLC now owns 3,512,651 shares of the airline’s stock worth $99,443,000 after buying an additional 2,680,375 shares during the period. FMR LLC boosted its stake in American Airlines Group by 28.6% in the second quarter. FMR LLC now owns 10,098,039 shares of the airline’s stock worth $285,875,000 after buying an additional 2,243,176 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in American Airlines Group by 31.6% in the second quarter. BlackRock Fund Advisors now owns 9,217,078 shares of the airline’s stock worth $260,935,000 after buying an additional 2,213,277 shares during the period. Hedge funds and other institutional investors own 74.62% of the company’s stock.
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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