American Airlines Group Inc. $AAL Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Lowers Holdings

Key Points

• Virginia Retirement Systems cut its American Airlines stake by 92.6% in the third quarter, selling 137,100 shares and retaining 10,900 shares valued at about $146,000.
• American Airlines reported a quarterly loss of $0.28 per share, narrower than analysts expected, while revenue rose 19.3% year over year to $16.34 billion.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $17.28 price target; shares opened at $13.18.

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in shares of American Airlines Group Inc. (NASDAQ:AAL - Free Report) by 92.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,900 shares of the airline's stock after selling 137,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in American Airlines Group were worth $146,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AAL. Primecap Management Co. CA purchased a new position in American Airlines Group in the 2nd quarter worth $1,278,144,000. BlackRock Inc. acquired a new position in shares of American Airlines Group in the second quarter valued at about $1,144,739,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of American Airlines Group in the second quarter valued at about $119,628,000. Renaissance Technologies LLC raised its stake in shares of American Airlines Group by 569.4% in the first quarter. Renaissance Technologies LLC now owns 9,687,232 shares of the airline's stock worth $104,041,000 after purchasing an additional 8,240,100 shares during the last quarter. Finally, U S Global Investors Inc. raised its stake in shares of American Airlines Group by 13.1% in the third quarter. U S Global Investors Inc. now owns 6,787,455 shares of the airline's stock worth $90,748,000 after purchasing an additional 786,283 shares during the last quarter. 52.44% of the stock is owned by institutional investors and hedge funds.

American Airlines Group Price Performance

American Airlines Group stock opened at $13.18 on Monday. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of -18.05 and a beta of 1.45. American Airlines Group Inc. has a 52 week low of $10.09 and a 52 week high of $18.79. The business's 50-day moving average price is $12.88 and its 200 day moving average price is $13.51.

American Airlines Group (NASDAQ:AAL - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The airline reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.08. American Airlines Group had a negative return on equity of 9.11% and a negative net margin of 0.79%. The company had revenue of $16.34 billion during the quarter, compared to analysts' expectations of $16.21 billion. During the same period last year, the business earned ($0.17) earnings per share. American Airlines Group's quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts expect that American Airlines Group Inc. will post -1.30 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen lowered American Airlines Group from a "hold" rating to a "sell" rating in a research report on Saturday, October 10th. TD Cowen reduced 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. Morgan Stanley decreased their price objective on shares of American Airlines Group from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Citigroup dropped their price objective on shares of American Airlines Group from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Finally, Zacks Research lowered shares of American Airlines Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.28.

American Airlines Group Company Profile

American Airlines Group Inc is a holding company whose principal business is operating a global airline through American Airlines and its regional partners. The company provides scheduled passenger and cargo air transportation, along with related services such as loyalty programs and travel offerings.

Its network connects destinations across the United States and serves markets in the Caribbean, Latin America, Europe and the Asia-Pacific region. Regional flights are operated under the American Eagle brand by affiliated carriers.

American Airlines Group was formed in 2013 through the merger of AMR Corporation, the parent of American Airlines, and US Airways Group.

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