Allspring Global Investments Holdings LLC Reduces Stake in American Airlines Group Inc. (NASDAQ:AAL)

Allspring Global Investments Holdings LLC lessened its stake in shares of American Airlines Group Inc. (NASDAQ:AAL) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,031 shares of the airline’s stock after selling 1,298 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American Airlines Group were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in American Airlines Group by 0.9% in the third quarter. Vanguard Group Inc. now owns 78,888,859 shares of the airline’s stock valued at $1,010,566,000 after purchasing an additional 667,660 shares during the period. U S Global Investors Inc. increased its position in shares of American Airlines Group by 18.7% during the 4th quarter. U S Global Investors Inc. now owns 12,675,358 shares of the airline’s stock worth $174,159,000 after purchasing an additional 2,001,247 shares during the last quarter. Par Capital Management Inc. lifted its position in American Airlines Group by 0.4% in the fourth quarter. Par Capital Management Inc. now owns 2,510,600 shares of the airline’s stock valued at $34,496,000 after buying an additional 10,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in American Airlines Group by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,153,431 shares of the airline’s stock worth $29,593,000 after buying an additional 82,537 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of American Airlines Group by 7,871.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,762,081 shares of the airline’s stock valued at $24,211,000 after acquiring an additional 1,739,977 shares during the last quarter. Institutional investors and hedge funds own 52.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAL. JPMorgan Chase & Co. decreased their price objective on shares of American Airlines Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Citigroup lowered their price target on 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. Bank of America cut their price objective on American Airlines Group from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. TD Cowen dropped their target price on American Airlines Group from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Finally, UBS Group initiated coverage on shares of American Airlines Group in a research report on Wednesday, March 20th. They set a “buy” rating and a $19.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.53.

American Airlines Group Stock Performance

NASDAQ:AAL opened at $10.98 on Wednesday. American Airlines Group Inc. has a 1 year low of $10.86 and a 1 year high of $19.08. The stock has a market cap of $7.20 billion, a P/E ratio of 18.30, a P/E/G ratio of 0.20 and a beta of 1.44. The stock has a 50-day simple moving average of $12.49 and a 200-day simple moving average of $13.68.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). American Airlines Group had a net margin of 0.94% and a negative return on equity of 31.65%. The business had revenue of $12.57 billion during the quarter, compared to analyst estimates of $12.60 billion. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that American Airlines Group Inc. will post 2.07 EPS 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.