Sumitomo Mitsui Trust Group Inc. Buys 87,626 Shares of American Airlines Group Inc. $AAL

Key Points

• Sumitomo Mitsui Trust Group opened a position in American Airlines, buying 87,626 shares worth about $1.17 million in the third quarter.
• Institutional investors collectively owned 52.44% of the company’s shares; several other firms also added or initiated positions.
• Analysts had a consensus Hold rating and $17.28 price target. In its latest reported quarter, American Airlines beat EPS and revenue estimates, though it remained loss-making.

Sumitomo Mitsui Trust Group Inc. bought a new position in American Airlines Group Inc. (NASDAQ:AAL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 87,626 shares of the airline's stock, valued at approximately $1,172,000.

Other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA bought a new position in American Airlines Group during the 2nd quarter valued at about $1,278,144,000. BlackRock Inc. bought a new stake in American Airlines Group in the second quarter worth about $1,144,739,000. Renaissance Technologies LLC boosted its position in shares of American Airlines Group by 569.4% during the first quarter. Renaissance Technologies LLC now owns 9,687,232 shares of the airline's stock valued at $104,041,000 after buying an additional 8,240,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of American Airlines Group during the second quarter valued at approximately $119,628,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of American Airlines Group during the second quarter valued at approximately $68,132,000. Institutional investors own 52.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AAL shares. Weiss Ratings downgraded American Airlines Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, October 23rd. Wells Fargo & Company dropped their price objective on American Airlines Group from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Barclays dropped their price objective on American Airlines Group from $19.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, September 11th. BMO Capital Markets cut their price objective on American Airlines Group from $19.00 to $15.50 and set a "market perform" rating on the stock in a research report on Monday, September 28th. Finally, Freedom Broker reduced their target price 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 equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, American Airlines Group has a consensus rating of "Hold" and a consensus price target of $17.28.

American Airlines Group Price Performance

American Airlines Group stock opened at $13.18 on Friday. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of -18.05 and a beta of 1.45. The firm has a 50-day moving average of $12.88 and a two-hundred day moving average of $13.51. American Airlines Group Inc. has a 1 year low of $10.09 and a 1 year high of $18.79.

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 analysts' consensus estimates 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 business had revenue of $16.34 billion for the quarter, compared to analyst estimates of $16.21 billion. During the same period last year, the company posted ($0.17) earnings per share. The company's quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts expect that American Airlines Group Inc. will post -1.30 earnings per share for the current year.

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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