CIBC Asset Management Inc Sells 65,620 Shares of American Airlines Group Inc. (NASDAQ:AAL)

CIBC Asset Management Inc lessened its stake in American Airlines Group Inc. (NASDAQ:AAL) by 77.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,006 shares of the airline’s stock after selling 65,620 shares during the quarter. CIBC Asset Management Inc’s holdings in American Airlines Group were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAL. Blue Trust Inc. grew its stake in American Airlines Group by 56.2% in the 3rd quarter. Blue Trust Inc. now owns 2,533 shares of the airline’s stock valued at $29,000 after purchasing an additional 911 shares during the period. UMB Bank n.a. grew its stake in American Airlines Group by 404.3% in the 2nd quarter. UMB Bank n.a. now owns 2,824 shares of the airline’s stock valued at $32,000 after buying an additional 2,264 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of American Airlines Group by 51.3% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,345 shares of the airline’s stock valued at $36,000 after purchasing an additional 795 shares during the period. ORG Partners LLC bought a new stake in shares of American Airlines Group during the second quarter valued at about $36,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of American Airlines Group in the second quarter worth about $36,000. Institutional investors own 52.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on AAL shares. Evercore reduced their price objective on shares of American Airlines Group from $13.00 to $10.00 in a research note on Friday, July 26th. TD Securities decreased their price target on shares of American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on American Airlines Group from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America boosted their target price on American Airlines Group from $9.00 to $10.00 and gave the stock an “underperform” rating in a research report on Friday, October 25th. Finally, Barclays raised American Airlines Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $16.00 in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.96.

American Airlines Group Trading Up 1.3 %

Shares of NASDAQ:AAL opened at $14.38 on Friday. The stock has a market capitalization of $9.45 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 0.26 and a beta of 1.39. The stock’s 50-day moving average price is $12.55 and its 200-day moving average price is $11.80. American Airlines Group Inc. has a 12-month low of $9.07 and a 12-month high of $16.15.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. American Airlines Group had a negative return on equity of 18.62% and a net margin of 0.51%. The business had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.50 billion. During the same period last year, the company earned $0.38 EPS. American Airlines Group’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that American Airlines Group Inc. will post 1.49 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.