Mackenzie Financial Corp Trims Stock Position in American Airlines Group Inc. (NASDAQ:AAL)

Mackenzie Financial Corp cut its holdings in shares of American Airlines Group Inc. (NASDAQ:AAL) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,790 shares of the airline’s stock after selling 1,519 shares during the quarter. Mackenzie Financial Corp’s holdings in American Airlines Group were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAL. UMB Bank n.a. boosted its position in American Airlines Group by 404.3% in the 2nd quarter. UMB Bank n.a. now owns 2,824 shares of the airline’s stock valued at $32,000 after buying an additional 2,264 shares during the period. Quarry LP purchased a new stake in American Airlines Group during the 4th quarter worth about $34,000. Beaird Harris Wealth Management LLC increased its holdings in shares of American Airlines Group by 51.3% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,345 shares of the airline’s stock valued at $36,000 after acquiring an additional 795 shares during the last quarter. ORG Partners LLC purchased a new position in American Airlines Group in the second quarter valued at approximately $36,000. Finally, Sentry Investment Management LLC acquired a new position in shares of American Airlines Group in the 2nd quarter valued at $36,000. 52.44% of the stock is owned by hedge funds and other institutional investors.

American Airlines Group Stock Performance

NASDAQ:AAL opened at $11.53 on Tuesday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 0.27 and a beta of 1.43. American Airlines Group Inc. has a one year low of $9.07 and a one year high of $16.15. The stock has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $11.96.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $14.33 billion during the quarter, compared to analyst estimates of $14.38 billion. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 EPS. On average, equities research analysts forecast that American Airlines Group Inc. will post 1.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AAL shares. Sanford C. Bernstein cut American Airlines Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $18.00 to $12.00 in a research note on Monday, July 22nd. Evercore dropped their price objective on American Airlines Group from $13.00 to $10.00 in a report on Friday, July 26th. Evercore ISI upped their target price on shares of American Airlines Group from $10.00 to $12.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. TD Securities lowered their price target on American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Finally, TD Cowen increased their price objective on shares of American Airlines Group from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.15.

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.