Fifth Third Bancorp Buys 14,168 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Fifth Third Bancorp lifted its position in American Airlines Group Inc. (NASDAQ:AAL) by 121.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,809 shares of the airline’s stock after buying an additional 14,168 shares during the quarter. Fifth Third Bancorp’s holdings in American Airlines Group were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in American Airlines Group during the second quarter valued at $36,000. Cetera Investment Advisers grew its holdings in shares of American Airlines Group by 271.8% during the first quarter. Cetera Investment Advisers now owns 187,130 shares of the airline’s stock worth $2,872,000 after purchasing an additional 136,797 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of American Airlines Group during the fourth quarter worth about $38,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of American Airlines Group in the second quarter worth approximately $5,452,000. Finally, Federated Hermes Inc. raised its stake in American Airlines Group by 32.2% in the fourth quarter. Federated Hermes Inc. now owns 4,114 shares of the airline’s stock valued at $57,000 after purchasing an additional 1,003 shares in the last quarter. 52.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen lowered shares of American Airlines Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $16.00 to $10.00 in a report on Wednesday, July 17th. Evercore ISI lowered their price target on American Airlines Group to $10.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Susquehanna cut their price objective on American Airlines Group from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. TD Securities decreased their price objective on American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Finally, Evercore dropped their target price on American Airlines Group from $13.00 to $10.00 in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.73.

American Airlines Group Stock Performance

Shares of NASDAQ:AAL opened at $10.39 on Friday. The firm has a market capitalization of $6.82 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.21 and a beta of 1.44. The stock has a 50 day moving average price of $10.58 and a 200-day moving average price of $12.82. American Airlines Group Inc. has a 52-week low of $9.07 and a 52-week high of $16.15.

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