Teacher Retirement System of Texas grew its stake in American Airlines Group Inc. (NASDAQ:AAL – Free Report) by 265.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,243 shares of the airline’s stock after acquiring an additional 66,278 shares during the quarter. Teacher Retirement System of Texas’ holdings in American Airlines Group were worth $1,026,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AAL. Marshall Wace LLP increased its stake in American Airlines Group by 319.4% in the second quarter. Marshall Wace LLP now owns 5,019,492 shares of the airline’s stock valued at $56,319,000 after purchasing an additional 3,822,757 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of American Airlines Group in the 3rd quarter valued at $37,533,000. Norges Bank bought a new stake in shares of American Airlines Group in the 2nd quarter valued at $15,133,000. Jump Financial LLC raised its stake in American Airlines Group by 203.3% during the 2nd quarter. Jump Financial LLC now owns 1,914,890 shares of the airline’s stock worth $21,485,000 after buying an additional 1,283,590 shares during the period. Finally, Par Capital Management Inc. acquired a new stake in American Airlines Group during the 2nd quarter worth $14,025,000. 52.44% of the stock is currently owned by institutional investors and hedge funds.
American Airlines Group Stock Up 2.9%
Shares of AAL stock opened at $13.69 on Tuesday. American Airlines Group Inc. has a 12 month low of $8.50 and a 12 month high of $17.40. The company’s fifty day simple moving average is $14.99 and its 200-day simple moving average is $13.35. The firm has a market cap of $9.04 billion, a PE ratio of 80.53, a P/E/G ratio of 0.51 and a beta of 1.23.
Wall Street Analyst Weigh In
AAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on American Airlines Group from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Wells Fargo & Company assumed coverage on shares of American Airlines Group in a research note on Thursday, December 18th. They issued an “equal weight” rating and a $17.00 price target on the stock. Barclays increased their price objective on shares of American Airlines Group from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. BMO Capital Markets restated a “market perform” rating and set a $17.00 price objective on shares of American Airlines Group in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of American Airlines Group in a research note on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.59.
Read Our Latest Stock Report on AAL
About American Airlines Group
American Airlines Group Inc is a leading global airline holding company headquartered in Fort Worth, Texas. Formed in December 2013 through the merger of AMR Corporation (parent of American Airlines) and US Airways Group, the company operates one of the world’s largest passenger and cargo networks. Its subsidiaries include American Airlines, which provides mainline service, and American Eagle, a network of regional carriers operating short- and medium-haul routes on behalf of the mainline carrier.
The company offers scheduled air transportation for passengers and cargo to more than 350 destinations in over 50 countries.
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