American Airlines Group, Inc., a network carrier operating primarily in the United States and Latin America, has been witnessing some interesting developments recently. One report suggests that Raymond James Financial Services Advisors Inc. has increased its holdings in American Airlines Group by 5.6% during Q4 2020. This information comes from the company’s most recent 13F filing with the Securities and Exchange Commission. The fund currently owns around 132 thousand shares valued at roughly $1.67 million as of December 31st.
In other news, Director Douglas M. Steenland sold just over 1,950 shares of American Airlines Group stock on May 15th. The shares were sold at an average price of $14.10 per share, resulting in a total value of approximately $27,495. After this sale, Steenland still holds nearly 30 thousand shares in the airline company with a total value exceeding $419 thousand.
Another transaction involving Steenland occurred on May 12th when he sold almost two thousand shares at an average price of $13.88 per share for a total amount of roughly $27,760.
Over the past ninety days, insiders have reportedly sold approximately twenty-six thousand shares worth around $358 thousand in American Airlines Group.
The global aviation industry’s performance has been notably impacted by travel restrictions and lockdowns due to the ongoing COVID-19 pandemic that began early last year; however, the situation is gradually turning better as vaccination drives are gaining momentum worldwide.
Despite these ups and downs for American Airlines Group specifically, it continues to offer air transportation services both domestically and internationally for passengers and cargo through several geographic departments such as Department of Transportation Domestic, Department of Transportation Latin America, Department of Transportation Atlantic, and Department of Transportation Pacific.
In conclusion, investors keenly observe these transactions made by directors or other insiders or institutional investors like funds because they can sometimes indicate underlying changes in sentiment towards the company’s future prospects based on their evaluation of recent and upcoming business developments, financial reports, or other public disclosures.
Large Investors Buy and Sell Shares of American Airlines Group, Inc.
American Airlines Group, Inc., one of the largest global airlines in operation today, has recently seen a variety of large investors buying and selling shares of the airline. Czech National Bank lifted its position in American Airlines Group by 0.8% in the fourth quarter, while Quadrant Capital Group LLC boosted its position by 46.0% during the 3rd quarter. Utah Retirement Systems and State of Michigan Retirement System also increased their shareholdings during recent months and Sentry Investment Management LLC boosted its holdings by an impressive 20.7% in the fourth quarter. As a result, hedge funds and other institutional investors now own almost 55% of American Airlines Group’s stock.
The recent activity follows a series of investment analysts’ reports on AAL over recent months, with JPMorgan Chase & Co., Cowen and Wolfe Research all providing upgrades or positive reviews for the Texas-based airline group, while Susquehanna dropped their price objective on shares from $15 to $14 citing a ‘neutral’ outlook.
American Airlines Group Inc is a holding firm that engages in passenger and cargo transportation and operates through several geographical segments: Department of Transportation Domestic, Department of Transportation Latin America, Department of Transportation Atlantic, and Department of Transportation Pacific. At time of writing, American Airlines Group’s stock opened at $14.38 on NASDAQ with a market capitalization of $9.39 billion.
Their financial performance has been encouraging too; on April 27th the airline reported Q1 earnings per share (EPS) which beat analyst estimates by $0.01 at earnings per share (EPS) for the quarter standing at $0.05, with net margins up to 3.39%.
According to Bloomberg sources – independent financial data providers – and keeping these latest figures in mind along side news that new fuel efficient engines are planned for use next year alongside further cost cutting measures from AAL itself, opinions are mixed on AAL’s future performance. American Airlines Group presently has a consensus rating of “Hold” yet a select few (two to be precise) investment analysts remain bearish, while twelve are more circumspect and three have issued a bullish outlook on the stock.
Discussion about this post