Wedmont Private Capital Buys New Shares in American Airlines Group Inc. (NASDAQ:AAL)

Wedmont Private Capital purchased a new position in American Airlines Group Inc. (NASDAQ:AAL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,774 shares of the airline’s stock, valued at approximately $115,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC raised its position 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 worth $36,000 after buying an additional 795 shares during the period. Empirical Finance LLC grew its holdings in shares of American Airlines Group by 1.4% during the 1st quarter. Empirical Finance LLC now owns 58,573 shares of the airline’s stock worth $899,000 after purchasing an additional 797 shares during the period. Eudaimonia Partners LLC grew its holdings in shares of American Airlines Group by 4.2% during the 1st quarter. Eudaimonia Partners LLC now owns 23,054 shares of the airline’s stock worth $354,000 after purchasing an additional 927 shares during the period. Ackerman Capital Advisors LLC increased its position in American Airlines Group by 6.5% during the 1st quarter. Ackerman Capital Advisors LLC now owns 15,661 shares of the airline’s stock worth $240,000 after purchasing an additional 949 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in American Airlines Group by 4.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 23,375 shares of the airline’s stock valued at $359,000 after buying an additional 978 shares during the period. 52.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAL has been the subject of several recent research reports. Citigroup dropped their price objective on shares of American Airlines Group from $20.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, May 31st. TD Cowen lowered American Airlines Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $16.00 to $10.00 in a research report on Wednesday, July 17th. Seaport Res Ptn cut American Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Jefferies Financial Group lowered American Airlines Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $12.00 in a research note on Wednesday, May 29th. Finally, Sanford C. Bernstein lowered American Airlines Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $18.00 to $12.00 in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Airlines Group currently has a consensus rating of “Hold” and a consensus target price of $13.80.

American Airlines Group Stock Performance

NASDAQ AAL opened at $9.81 on Wednesday. American Airlines Group Inc. has a one year low of $9.07 and a one year high of $16.15. The company has a 50-day simple moving average of $10.81 and a 200-day simple moving average of $13.09. The firm has a market capitalization of $6.44 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.21 and a beta of 1.44.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, July 25th. The airline reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $14.33 billion during the quarter, compared to the consensus estimate of $14.38 billion. American Airlines Group had a negative return on equity of 19.49% and a negative net margin of 0.23%. American Airlines Group’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. Equities analysts forecast that American Airlines Group Inc. will post 0.96 earnings per share for the current year.

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.