American Airlines Group (NASDAQ:AAL) Stock Price Down 3.8% - Here's What Happened

American Airlines Group Inc. (NASDAQ:AAL - Get Free Report) dropped 3.8% on Wednesday . The company traded as low as $11.44 and last traded at $11.39. Approximately 22,578,256 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 41,436,522 shares. The stock had previously closed at $11.84.

Analyst Ratings Changes

AAL has been the subject of a number of research reports. Susquehanna reduced their price objective on American Airlines Group from $18.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $12.00 price objective (down previously from $20.00) on shares of American Airlines Group in a research note on Tuesday, April 1st. TD Cowen boosted their price objective on American Airlines Group to $13.00 and gave the company an "unchanged" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on American Airlines Group from $30.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Finally, Wall Street Zen lowered American Airlines Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.68.

American Airlines Group Price Performance

The stock has a 50-day simple moving average of $10.73 and a 200 day simple moving average of $13.66. The company has a market capitalization of $6.84 billion, a PE ratio of 9.10, a P/E/G ratio of 0.21 and a beta of 1.39.

American Airlines Group (NASDAQ:AAL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The airline reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.10. American Airlines Group had a negative return on equity of 28.56% and a net margin of 1.56%. The business had revenue of $12.55 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the prior year, the business earned ($0.34) earnings per share. The business's revenue was down .2% on a year-over-year basis. As a group, research analysts predict that American Airlines Group Inc. will post 2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On American Airlines Group

Several large investors have recently added to or reduced their stakes in AAL. Voloridge Investment Management LLC purchased a new position in American Airlines Group during the fourth quarter worth about $60,190,000. Primecap Management Co. CA lifted its position in American Airlines Group by 5.0% during the fourth quarter. Primecap Management Co. CA now owns 60,225,707 shares of the airline's stock worth $1,049,734,000 after buying an additional 2,886,041 shares during the period. Nearwater Capital Markets Ltd purchased a new position in American Airlines Group during the first quarter worth about $29,012,000. Two Sigma Advisers LP purchased a new position in American Airlines Group during the fourth quarter worth about $42,693,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in American Airlines Group during the fourth quarter worth about $40,333,000. 52.44% of the stock is currently owned by hedge funds and other institutional investors.

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