Norges Bank Invests $20.70 Million in American Airlines Group Inc. (NASDAQ:AAL)

Norges Bank bought a new position in shares of American Airlines Group Inc. (NASDAQ:AAL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,187,351 shares of the airline’s stock, valued at approximately $20,696,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of American Airlines Group by 33.9% during the 3rd quarter. FMR LLC now owns 408,968 shares of the airline’s stock valued at $4,597,000 after purchasing an additional 103,506 shares during the last quarter. Benjamin Edwards Inc. bought a new position in American Airlines Group during the third quarter valued at approximately $128,000. Integrated Wealth Concepts LLC boosted its stake in American Airlines Group by 7.2% during the third quarter. Integrated Wealth Concepts LLC now owns 33,716 shares of the airline’s stock valued at $379,000 after buying an additional 2,278 shares during the last quarter. Quantinno Capital Management LP increased its stake in American Airlines Group by 650.8% in the 3rd quarter. Quantinno Capital Management LP now owns 307,359 shares of the airline’s stock worth $3,455,000 after acquiring an additional 266,424 shares during the last quarter. Finally, United Services Automobile Association raised its holdings in shares of American Airlines Group by 73.3% during the 3rd quarter. United Services Automobile Association now owns 30,707 shares of the airline’s stock worth $345,000 after acquiring an additional 12,985 shares in the last quarter. 52.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup cut their target price on shares of American Airlines Group from $21.50 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Barclays dropped their price objective on shares of American Airlines Group from $18.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. decreased their target price on shares of American Airlines Group from $30.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Evercore ISI lifted their price target on American Airlines Group to $18.00 and gave the stock a “hold” rating in a research report on Thursday, January 9th. Finally, Redburn Atlantic raised American Airlines Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

American Airlines Group Price Performance

American Airlines Group stock opened at $9.42 on Monday. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 0.21 and a beta of 1.17. The firm has a 50-day moving average of $13.85 and a two-hundred day moving average of $14.47. American Airlines Group Inc. has a 1 year low of $8.50 and a 1 year high of $19.10.

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, beating analysts’ consensus estimates of $0.39 by $0.47. American Airlines Group had a negative return on equity of 28.56% and a net margin of 1.56%. Research analysts expect that American Airlines Group Inc. will post 2.42 earnings per share for the current year.

Insider Transactions at American Airlines Group

In other news, SVP Angela Owens sold 51,906 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $17.15, for a total value of $890,187.90. Following the completion of the sale, the senior vice president now owns 112,412 shares of the company’s stock, valued at approximately $1,927,865.80. This represents a 31.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.49% of the company’s stock.

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.