Palisade Capital Management LLC NJ cut its position in shares of American Airlines Group, Inc. (NASDAQ:AAL) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 9,000 shares of the airline’s stock after selling 750 shares during the period. Palisade Capital Management LLC NJ’s holdings in American Airlines Group were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AAL. State of New Jersey Common Pension Fund D increased its position in American Airlines Group by 550.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 130,000 shares of the airline’s stock worth $5,499,000 after buying an additional 110,000 shares during the last quarter. Capital Management Corp VA increased its position in American Airlines Group by 4.6% in the first quarter. Capital Management Corp VA now owns 85,438 shares of the airline’s stock worth $3,614,000 after buying an additional 3,770 shares during the last quarter. Strs Ohio increased its position in American Airlines Group by 23.0% in the first quarter. Strs Ohio now owns 454,865 shares of the airline’s stock worth $19,240,000 after buying an additional 85,000 shares during the last quarter. Janney Montgomery Scott LLC increased its position in American Airlines Group by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 23,284 shares of the airline’s stock worth $985,000 after buying an additional 754 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in American Airlines Group by 333.1% in the first quarter. Glen Harbor Capital Management LLC now owns 47,256 shares of the airline’s stock worth $1,999,000 after buying an additional 36,344 shares during the last quarter. 81.51% of the stock is owned by hedge funds and other institutional investors.

Shares of American Airlines Group, Inc. (AAL) opened at 49.40 on Thursday. American Airlines Group, Inc. has a 12 month low of $33.90 and a 12 month high of $54.48. The company’s 50 day moving average is $51.03 and its 200-day moving average is $46.85. The firm has a market cap of $24.06 billion, a PE ratio of 12.26 and a beta of 0.96. American Airlines Group also was the target of unusually large options trading activity on Monday. Traders acquired 1,841 put options on the stock. This is an increase of approximately 221% compared to the typical volume of 574 put options.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings data on Friday, July 28th. The airline reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.05. American Airlines Group had a net margin of 5.02% and a return on equity of 83.58%. The business had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.08 billion. During the same quarter in the prior year, the business posted $1.77 earnings per share. American Airlines Group’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that American Airlines Group, Inc. will post $5.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.40 annualized dividend and a yield of 0.81%. American Airlines Group’s dividend payout ratio is 9.88%.

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A number of research firms have recently commented on AAL. Morgan Stanley reaffirmed an “equal weight” rating and set a $54.00 price objective (up from $53.00) on shares of American Airlines Group in a report on Monday, July 17th. Citigroup Inc. raised their price objective on shares of American Airlines Group from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $52.00 price objective on shares of American Airlines Group in a report on Thursday, July 13th. BidaskClub raised shares of American Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Finally, Imperial Capital reaffirmed an “in-line” rating and set a $49.00 price objective (up from $43.00) on shares of American Airlines Group in a report on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $53.57.

In related news, VP Derek J. Kerr sold 104,223 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $50.00, for a total transaction of $5,211,150.00. Following the completion of the sale, the vice president now owns 591,195 shares of the company’s stock, valued at $29,559,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elise R. Eberwein sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $50.35, for a total transaction of $2,517,500.00. Following the sale, the executive vice president now directly owns 312,368 shares of the company’s stock, valued at approximately $15,727,728.80. The disclosure for this sale can be found here. Insiders have sold 187,623 shares of company stock valued at $9,389,966 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

About American Airlines Group

American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.

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Institutional Ownership by Quarter for American Airlines Group (NASDAQ:AAL)

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