Norden Group LLC Buys New Stake in American Airlines Group Inc. (NASDAQ:AAL)

Key Points

• Norden Group LLC invested approximately $305,000 in American Airlines Group by purchasing 28,865 shares during the first quarter.
• Multiple institutional investors, including Prudential Financial Inc. and Norges Bank, have recently increased their stakes in American Airlines, indicating strong institutional interest.
• American Airlines reported an EPS of $0.95 for the latest quarter, beating expectations, with revenue increasing by 0.4% year-over-year.

Norden Group LLC bought a new position in shares of American Airlines Group Inc. (NASDAQ:AAL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,865 shares of the airline's stock, valued at approximately $305,000.

Other large investors have also recently added to or reduced their stakes in the company. Elequin Capital LP boosted its holdings in American Airlines Group by 208.5% during the fourth quarter. Elequin Capital LP now owns 1,749 shares of the airline's stock worth $30,000 after buying an additional 1,182 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in American Airlines Group during the fourth quarter worth approximately $42,000. Bogart Wealth LLC boosted its holdings in American Airlines Group by 1,300.0% during the first quarter. Bogart Wealth LLC now owns 2,800 shares of the airline's stock worth $30,000 after buying an additional 2,600 shares in the last quarter. Assetmark Inc. bought a new stake in American Airlines Group during the first quarter worth approximately $30,000. Finally, Golden State Wealth Management LLC boosted its holdings in American Airlines Group by 121.4% during the first quarter. Golden State Wealth Management LLC now owns 3,117 shares of the airline's stock worth $33,000 after buying an additional 1,709 shares in the last quarter. 52.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America raised their target price on shares of American Airlines Group from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. UBS Group raised their price objective on shares of American Airlines Group from $9.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Barclays raised their price objective on shares of American Airlines Group from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group lowered shares of American Airlines Group from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $16.00 to $8.00 in a research note on Tuesday, April 8th. Finally, Sanford C. Bernstein raised their price objective on shares of American Airlines Group from $12.00 to $15.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, American Airlines Group currently 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 $0.46 on Friday, hitting $11.03. The company's stock had a trading volume of 71,518,259 shares, compared to its average volume of 70,675,848. American Airlines Group Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $19.10. The firm's fifty day moving average price is $11.53 and its 200-day moving average price is $12.45. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.60 and a beta of 1.43.

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

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.