Forum Financial Management LP Invests $115,000 in American Airlines Group Inc. (NASDAQ:AAL)

Forum Financial Management LP acquired a new position in American Airlines Group Inc. (NASDAQ:AAL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,190 shares of the airline’s stock, valued at approximately $115,000.

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

American Airlines Group Stock Performance

NASDAQ AAL opened at $10.62 on Friday. The stock’s fifty day moving average is $10.48 and its two-hundred day moving average is $12.66. The firm has a market capitalization of $6.97 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 0.21 and a beta of 1.44. American Airlines Group Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $16.15.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings data on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $14.33 billion for 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 firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 earnings per share. As a group, sell-side analysts forecast that American Airlines Group Inc. will post 0.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. HSBC initiated coverage on American Airlines Group in a research report on Monday, May 13th. They set a “buy” rating and a $17.90 price target for the company. TD Cowen lowered American Airlines Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $16.00 to $10.00 in a report on Wednesday, July 17th. TD Securities dropped their price objective on American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Evercore ISI dropped their price objective on American Airlines Group to $10.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Finally, Evercore lowered their price target on American Airlines Group from $13.00 to $10.00 in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, American Airlines Group currently has an average rating of “Hold” and a consensus target price of $13.73.

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.