Zazove Associates LLC Makes New $124,000 Investment in American Airlines Group Inc (NASDAQ:AAL)

Zazove Associates LLC bought a new position in shares of American Airlines Group Inc (NASDAQ:AAL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,610 shares of the airline’s stock, valued at approximately $124,000.

A number of other institutional investors also recently made changes to their positions in AAL. Geode Capital Management LLC boosted its position in American Airlines Group by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 5,530,993 shares of the airline’s stock worth $177,362,000 after purchasing an additional 366,191 shares during the period. U S Global Investors Inc. boosted its position in American Airlines Group by 83.4% during the first quarter. U S Global Investors Inc. now owns 585,558 shares of the airline’s stock worth $18,709,000 after purchasing an additional 266,256 shares during the period. State of New Jersey Common Pension Fund D boosted its position in American Airlines Group by 86.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the airline’s stock worth $18,262,000 after purchasing an additional 260,000 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in American Airlines Group during the first quarter worth approximately $7,886,000. Finally, Packer & Co Ltd boosted its position in American Airlines Group by 50.4% during the second quarter. Packer & Co Ltd now owns 638,400 shares of the airline’s stock worth $20,818,000 after purchasing an additional 214,000 shares during the period. 78.86% of the stock is owned by hedge funds and other institutional investors.

Shares of AAL stock traded down $0.30 during trading hours on Friday, reaching $28.78. 3,955,137 shares of the company’s stock were exchanged, compared to its average volume of 6,233,719. American Airlines Group Inc has a fifty-two week low of $27.02 and a fifty-two week high of $43.89. The company has a market capitalization of $12.95 billion, a PE ratio of 6.33, a P/E/G ratio of 0.35 and a beta of 1.66. The business’s fifty day simple moving average is $31.90.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, July 25th. The airline reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.05. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.98 billion. American Airlines Group had a negative return on equity of 588.10% and a net margin of 3.35%. American Airlines Group’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Research analysts forecast that American Airlines Group Inc will post 4.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. American Airlines Group’s payout ratio is 8.79%.

A number of research analysts have recently commented on AAL shares. ValuEngine lowered American Airlines Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Standpoint Research started coverage on American Airlines Group in a report on Wednesday, June 5th. They set a “buy” rating for the company. Zacks Investment Research upgraded American Airlines Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 8th. Buckingham Research cut their price target on American Airlines Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Barclays cut their price target on American Airlines Group from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. American Airlines Group presently has an average rating of “Hold” and an average price target of $41.19.

In other news, EVP Stephen L. Johnson bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average cost of $27.72 per share, for a total transaction of $138,600.00. Following the completion of the purchase, the executive vice president now owns 622,580 shares of the company’s stock, valued at approximately $17,257,917.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray M. Robinson sold 6,930 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $29.11, for a total value of $201,732.30. Following the completion of the transaction, the director now owns 29,754 shares of the company’s stock, valued at $866,138.94. The disclosure for this sale can be found here. Insiders purchased 99,000 shares of company stock valued at $2,787,070 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

American Airlines Group Profile

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.

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

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