Harvest Portfolios Group Inc. Reduces Holdings in American Airlines Group Inc. (NASDAQ:AAL)

Harvest Portfolios Group Inc. lowered its position in American Airlines Group Inc. (NASDAQ:AAL) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 114,165 shares of the airline’s stock after selling 9,384 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in American Airlines Group were worth $1,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAL. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of American Airlines Group by 8.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 65,234 shares of the airline’s stock valued at $1,001,000 after purchasing an additional 4,828 shares during the period. Norden Group LLC bought a new stake in shares of American Airlines Group during the 1st quarter valued at $176,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in American Airlines Group by 15.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,845 shares of the airline’s stock worth $1,330,000 after purchasing an additional 12,434 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in American Airlines Group during the 1st quarter valued at about $96,000. Finally, Texas Permanent School Fund Corp increased its position in shares of American Airlines Group by 3.8% during the first quarter. Texas Permanent School Fund Corp now owns 135,215 shares of the airline’s stock valued at $2,076,000 after buying an additional 4,996 shares during the period. 52.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of American Airlines Group from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Redburn Atlantic upgraded shares of American Airlines Group to a “hold” rating in a research report on Tuesday, September 3rd. Barclays lowered their price objective on American Airlines Group from $14.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI boosted their target price on American Airlines Group from $10.00 to $12.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on American Airlines Group from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, American Airlines Group presently has an average rating of “Hold” and a consensus price target of $13.40.

American Airlines Group Price Performance

AAL opened at $14.00 on Thursday. American Airlines Group Inc. has a 1 year low of $9.07 and a 1 year high of $16.15. The stock’s 50 day simple moving average is $11.81 and its 200 day simple moving average is $11.77. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 0.24 and a beta of 1.39.

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