American Airlines Group Inc. $AAL Stock Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its American Airlines position by 3.1%, selling 86,800 shares and retaining 2.72 million shares worth approximately $36.4 million. Institutional investors collectively own 52.44% of the company.
• Analysts have lowered several price targets, with ratings ranging from Buy to Sell. The stock has a consensus rating of Hold and an average price target of $17.28.
• American Airlines opened at $12.60, near the lower end of its 52-week range, while its latest quarterly loss of $0.28 per share was better than estimates. Revenue reached $16.34 billion, up 19.3% year over year.

Hennessy Advisors Inc. lessened its position in American Airlines Group Inc. (NASDAQ:AAL - Free Report) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,724,100 shares of the airline's stock after selling 86,800 shares during the quarter. American Airlines Group accounts for approximately 1.3% of Hennessy Advisors Inc.'s portfolio, making the stock its 16th largest holding. Hennessy Advisors Inc. owned about 0.41% of American Airlines Group worth $36,421,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. HB Wealth Management LLC boosted its holdings in shares of American Airlines Group by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 20,205 shares of the airline's stock worth $217,000 after purchasing an additional 871 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of American Airlines Group by 33.1% during the 1st quarter. Root Financial Partners LLC now owns 3,816 shares of the airline's stock valued at $41,000 after buying an additional 949 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in American Airlines Group by 1.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 70,836 shares of the airline's stock worth $1,280,000 after buying an additional 972 shares during the last quarter. International Assets Investment Management LLC lifted its position in American Airlines Group by 8.2% in the 1st quarter. International Assets Investment Management LLC now owns 12,820 shares of the airline's stock worth $143,000 after buying an additional 977 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. lifted its position in American Airlines Group by 16.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 7,000 shares of the airline's stock worth $94,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 52.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Susquehanna cut their price objective on shares of American Airlines Group from $20.00 to $15.00 and set a "positive" rating for the company in a research note on Wednesday, October 7th. Citigroup decreased their target price on shares of American Airlines Group from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. The Goldman Sachs Group lowered their price target on shares of American Airlines Group from $13.00 to $11.00 and set a "sell" rating for the company in a research note on Friday, October 2nd. TD Cowen cut their price target on shares of American Airlines Group from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Finally, Freedom Broker reduced their price objective on American Airlines Group from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.28.

American Airlines Group Stock Performance

NASDAQ:AAL opened at $12.60 on Monday. American Airlines Group Inc. has a fifty-two week low of $10.09 and a fifty-two week high of $18.79. The firm has a market cap of $8.35 billion, a PE ratio of -17.26 and a beta of 1.45. The business has a 50 day moving average price of $12.95 and a 200-day moving average price of $13.56.

American Airlines Group (NASDAQ:AAL - Get Free Report) last issued its earnings results on Thursday, October 22nd. The airline reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.08. American Airlines Group had a negative net margin of 0.79% and a negative return on equity of 9.11%. The company had revenue of $16.34 billion for the quarter, compared to the consensus estimate of $16.21 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts predict that American Airlines Group Inc. will post -1.29 EPS for the current year.

About American Airlines Group

American Airlines Group Inc is a holding company whose principal subsidiary, American Airlines, provides scheduled passenger air transportation and air cargo services. The company operates a large mainline network under the American Airlines brand and offers regional service through carriers operating as American Eagle. Its services include domestic and international flights, connecting passengers through a network of hubs and focus cities.

American Airlines serves destinations throughout the United States, as well as markets in Canada, Mexico, the Caribbean, Central and South America, Europe, Asia and other international regions.

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