AE Wealth Management LLC Reduces Position in American Airlines Group Inc. (NASDAQ:AAL)

AE Wealth Management LLC trimmed its stake in American Airlines Group Inc. (NASDAQ:AAL) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,495 shares of the airline’s stock after selling 7,435 shares during the period. AE Wealth Management LLC’s holdings in American Airlines Group were worth $4,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position in shares of American Airlines Group by 171.7% in the 1st quarter. AdvisorNet Financial Inc now owns 1,076 shares of the airline’s stock valued at $26,000 after buying an additional 680 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new position in American Airlines Group during the 1st quarter worth $26,000. First Command Bank purchased a new position in American Airlines Group during the 1st quarter worth $33,000. Clearview Wealth Advisors LLC purchased a new position in American Airlines Group during the 4th quarter worth $26,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in American Airlines Group during the 4th quarter worth $27,000. 44.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:AAL opened at $21.95 on Tuesday. The business’s fifty day moving average price is $22.89 and its two-hundred day moving average price is $17.65. The stock has a market cap of $14.08 billion, a PE ratio of -1.59 and a beta of 1.82. American Airlines Group Inc. has a one year low of $8.25 and a one year high of $26.09.

American Airlines Group (NASDAQ:AAL) last announced its earnings results on Wednesday, April 21st. The airline reported ($4.32) EPS for the quarter, missing analysts’ consensus estimates of ($4.30) by ($0.02). The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business posted ($2.65) EPS. The business’s revenue was down 52.9% compared to the same quarter last year. As a group, equities analysts anticipate that American Airlines Group Inc. will post -19.77 EPS for the current year.

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of American Airlines Group from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Monday, March 1st. Morgan Stanley began coverage on shares of American Airlines Group in a research note on Tuesday, April 13th. They issued an “underweight” rating and a $20.00 target price for the company. Raymond James upgraded shares of American Airlines Group from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 29th. Cowen downgraded shares of American Airlines Group from an “outperform” rating to a “market perform” rating in a report on Monday, January 11th. Finally, Jefferies Financial Group raised shares of American Airlines Group from an “underperform” rating to a “hold” rating and increased their target price for the company from $15.00 to $25.00 in a report on Tuesday, March 30th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. American Airlines Group has an average rating of “Hold” and an average target price of $17.38.

About American Airlines Group

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, Madrid, Seattle/Tacoma, Sydney, and Tokyo.

Further Reading: Stochastic Momentum Index (SMI)

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

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