Retirement Systems of Alabama Increases Stock Holdings in American Airlines Group Inc. (NASDAQ:AAL)

Retirement Systems of Alabama boosted its holdings in shares of American Airlines Group Inc. (NASDAQ:AAL - Free Report) by 451.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797,738 shares of the airline's stock after buying an additional 653,012 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of American Airlines Group worth $8,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAL. Primecap Management Co. CA lifted its stake in shares of American Airlines Group by 34.4% in the 2nd quarter. Primecap Management Co. CA now owns 56,881,356 shares of the airline's stock valued at $644,466,000 after purchasing an additional 14,549,310 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of American Airlines Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,240,659 shares of the airline's stock valued at $48,047,000 after purchasing an additional 1,823,928 shares in the last quarter. Point72 DIFC Ltd purchased a new position in American Airlines Group during the third quarter worth approximately $16,490,000. Toronto Dominion Bank grew its holdings in American Airlines Group by 379.6% in the third quarter. Toronto Dominion Bank now owns 1,667,539 shares of the airline's stock valued at $18,743,000 after purchasing an additional 1,319,859 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of American Airlines Group by 10,997.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,167,056 shares of the airline's stock valued at $13,118,000 after buying an additional 1,156,540 shares in the last quarter. 52.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAL has been the topic of several research reports. Seaport Res Ptn raised shares of American Airlines Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, December 5th. Morgan Stanley boosted their price objective on American Airlines Group from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Evercore ISI lifted their price target on American Airlines Group from $10.00 to $12.00 and gave the stock an "in-line" rating in a report on Thursday, October 3rd. TD Cowen boosted their price target on shares of American Airlines Group from $10.00 to $17.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, Redburn Atlantic upgraded shares of American Airlines Group to a "hold" rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, American Airlines Group has a consensus rating of "Moderate Buy" and a consensus target price of $15.99.

American Airlines Group Stock Performance

NASDAQ:AAL traded up $0.20 during mid-day trading on Tuesday, reaching $16.72. The stock had a trading volume of 23,608,341 shares, compared to its average volume of 33,639,406. The business has a 50 day simple moving average of $14.16 and a 200 day simple moving average of $11.98. American Airlines Group Inc. has a twelve month low of $9.07 and a twelve month high of $18.20. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 0.29 and a beta of 1.41.

American Airlines Group (NASDAQ:AAL - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.14. The business had revenue of $13.65 billion for the quarter, compared to analysts' expectations of $13.50 billion. American Airlines Group had a net margin of 0.51% and a negative return on equity of 18.62%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts expect that American Airlines Group Inc. will post 1.62 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.