Range Financial Group LLC Buys New Position in American Airlines Group Inc. (NASDAQ:AAL)

Range Financial Group LLC purchased a new position in shares of American Airlines Group Inc. (NASDAQ:AAL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,613 shares of the airline’s stock, valued at approximately $224,000.

Several other hedge funds have also made changes to their positions in AAL. Federated Hermes Inc. raised its position in American Airlines Group by 32.2% in the 4th quarter. Federated Hermes Inc. now owns 4,114 shares of the airline’s stock valued at $57,000 after purchasing an additional 1,003 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of American Airlines Group by 11.0% in the fourth quarter. Global Retirement Partners LLC now owns 10,912 shares of the airline’s stock valued at $144,000 after acquiring an additional 1,078 shares during the period. QRG Capital Management Inc. raised its holdings in shares of American Airlines Group by 5.2% in the fourth quarter. QRG Capital Management Inc. now owns 21,904 shares of the airline’s stock valued at $301,000 after buying an additional 1,084 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in American Airlines Group by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 293,480 shares of the airline’s stock worth $3,759,000 after acquiring an additional 1,110 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of American Airlines Group by 50.6% in the 1st quarter. GAMMA Investing LLC now owns 4,049 shares of the airline’s stock valued at $62,000 after purchasing an additional 1,361 shares during the last quarter. Institutional investors and hedge funds own 52.44% of the company’s stock.

American Airlines Group Stock Performance

Shares of AAL stock opened at $11.16 on Tuesday. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. The company has a 50 day moving average price of $13.11 and a 200 day moving average price of $13.92. American Airlines Group Inc. has a one year low of $10.86 and a one year high of $19.08.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). American Airlines Group had a negative return on equity of 31.65% and a net margin of 0.94%. The firm had revenue of $12.57 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same period last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts forecast that American Airlines Group Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AAL shares. Morgan Stanley decreased their price target on American Airlines Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. Susquehanna lowered their price target on shares of American Airlines Group from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Seaport Res Ptn cut shares of American Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Bank of America dropped their target price on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. Finally, HSBC initiated coverage on American Airlines Group in a research note on Monday, May 13th. They set a “buy” rating and a $17.90 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Airlines Group presently has a consensus rating of “Hold” and a consensus price target of $16.53.

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.