KLP Kapitalforvaltning AS Makes New $608,000 Investment in American Airlines Group Inc. (NASDAQ:AAL)

KLP Kapitalforvaltning AS acquired a new stake in shares of American Airlines Group Inc. (NASDAQ:AAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,900 shares of the airline’s stock, valued at approximately $608,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in American Airlines Group by 13.2% during the third quarter. Cerity Partners LLC now owns 80,131 shares of the airline’s stock valued at $901,000 after buying an additional 9,330 shares during the period. FMR LLC increased its stake in shares of American Airlines Group by 33.9% in the 3rd quarter. FMR LLC now owns 408,968 shares of the airline’s stock worth $4,597,000 after acquiring an additional 103,506 shares in the last quarter. Townsquare Capital LLC lifted its position in American Airlines Group by 70.5% during the 3rd quarter. Townsquare Capital LLC now owns 46,622 shares of the airline’s stock valued at $524,000 after acquiring an additional 19,271 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Airlines Group by 2.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,858 shares of the airline’s stock worth $1,471,000 after purchasing an additional 2,932 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in American Airlines Group in the third quarter worth about $55,000. Institutional investors own 52.44% of the company’s stock.

Insider Activity at American Airlines Group

In related news, SVP Angela Owens sold 51,906 shares of American Airlines Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $17.15, for a total transaction of $890,187.90. Following the transaction, the senior vice president now owns 112,412 shares in the company, valued at approximately $1,927,865.80. This trade represents a 31.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AAL has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of American Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 5th. Melius Research upgraded shares of American Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of American Airlines Group from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley upped their price objective on American Airlines Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Redburn Atlantic raised American Airlines Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.50.

American Airlines Group Price Performance

NASDAQ AAL opened at $10.59 on Thursday. American Airlines Group Inc. has a 1 year low of $9.07 and a 1 year high of $19.10. The company has a market capitalization of $6.96 billion, a PE ratio of 9.29, a P/E/G ratio of 0.21 and a beta of 1.27. The company has a fifty day moving average of $14.15 and a 200 day moving average of $14.46.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, January 23rd. The airline reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.47. American Airlines Group had a net margin of 1.56% and a negative return on equity of 28.56%. Research analysts expect that American Airlines Group Inc. will post 2.42 earnings per share for the current 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.