Connor Clark & Lunn Investment Management Ltd. Purchases 720,024 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in American Airlines Group by 148.4%, acquiring an additional 720,024 shares, bringing its total ownership to approximately 1.2 million shares worth $12.7 million.
• American Airlines reported a net margin of 1.05% and earnings of $0.95 per share for the recent quarter, surpassing the consensus estimate of $0.79.
• Analysts have revised their price targets for American Airlines Group, with the consensus target now set at $16.76, indicating a Moderate Buy rating overall.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in American Airlines Group Inc. (NASDAQ:AAL - Free Report) by 148.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,205,123 shares of the airline's stock after purchasing an additional 720,024 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of American Airlines Group worth $12,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in American Airlines Group by 10.0% in the first quarter. Signaturefd LLC now owns 11,289 shares of the airline's stock worth $119,000 after acquiring an additional 1,030 shares in the last quarter. Elequin Capital LP raised its holdings in American Airlines Group by 208.5% during the 4th quarter. Elequin Capital LP now owns 1,749 shares of the airline's stock worth $30,000 after buying an additional 1,182 shares during the period. Vident Advisory LLC grew its stake in American Airlines Group by 4.1% during the 4th quarter. Vident Advisory LLC now owns 31,411 shares of the airline's stock valued at $547,000 after acquiring an additional 1,235 shares in the last quarter. Golden State Wealth Management LLC grew its stake in American Airlines Group by 121.4% during the 1st quarter. Golden State Wealth Management LLC now owns 3,117 shares of the airline's stock valued at $33,000 after acquiring an additional 1,709 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in American Airlines Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 287,811 shares of the airline's stock valued at $5,017,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 52.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AAL shares. UBS Group boosted their price target on American Airlines Group from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Bank of America increased their price objective on American Airlines Group from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. TD Cowen increased their price objective on American Airlines Group to $13.00 and gave the company an "unchanged" rating in a research report on Friday, April 25th. Barclays upped their target price on American Airlines Group from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Raymond James Financial cut their target price on American Airlines Group from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, American Airlines Group presently has a consensus rating of "Moderate Buy" and an average price target of $16.76.

American Airlines Group Price Performance

Shares of AAL stock traded down $0.29 during trading hours on Thursday, hitting $12.82. 58,217,881 shares of the company's stock were exchanged, compared to its average volume of 57,013,727. The stock's 50-day moving average is $11.61 and its 200-day moving average is $12.06. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.95 and a beta of 1.43. American Airlines Group Inc. has a 52 week low of $8.50 and a 52 week high of $19.10.

American Airlines Group (NASDAQ:AAL - Get Free Report) last issued its earnings results on Thursday, July 24th. The airline reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.16. The firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $14.27 billion. American Airlines Group had a negative return on equity of 24.55% and a net margin of 1.05%. The company's revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. Equities research analysts forecast that American Airlines Group Inc. will post 2.42 earnings per share for the current fiscal year.

American Airlines Group Profile

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.