Convergence Investment Partners LLC Invests $502,000 in American Airlines Group Inc. (NASDAQ:AAL)

Convergence Investment Partners LLC acquired a new position in American Airlines Group Inc. (NASDAQ:AAL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,828 shares of the airline’s stock, valued at approximately $502,000.

Several other large investors have also recently modified their holdings of AAL. Golden State Wealth Management LLC purchased a new position in American Airlines Group in the 4th quarter worth approximately $25,000. Brooklyn Investment Group increased its stake in shares of American Airlines Group by 133.1% in the fourth quarter. Brooklyn Investment Group now owns 1,592 shares of the airline’s stock worth $28,000 after buying an additional 909 shares during the period. Bfsg LLC increased its stake in shares of American Airlines Group by 269.3% in the fourth quarter. Bfsg LLC now owns 2,057 shares of the airline’s stock worth $36,000 after buying an additional 1,500 shares during the period. Blue Trust Inc. increased its stake in shares of American Airlines Group by 56.2% in the third quarter. Blue Trust Inc. now owns 2,533 shares of the airline’s stock worth $29,000 after buying an additional 911 shares during the period. Finally, Quent Capital LLC increased its position in shares of American Airlines Group by 70.2% in the fourth quarter. Quent Capital LLC now owns 3,064 shares of the airline’s stock valued at $53,000 after acquiring an additional 1,264 shares during the period. Hedge funds and other institutional investors own 52.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein upgraded shares of American Airlines Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $14.00 to $24.00 in a research report on Tuesday, December 10th. Melius Research upgraded American Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on American Airlines Group from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen raised American Airlines Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $17.00 to $25.00 in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on shares of American Airlines Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.88.

American Airlines Group Stock Down 0.5 %

American Airlines Group stock opened at $16.00 on Thursday. American Airlines Group Inc. has a twelve month low of $9.07 and a twelve month high of $19.10. The company has a market capitalization of $10.51 billion, a P/E ratio of 14.04, a PEG ratio of 0.22 and a beta of 1.35. The stock’s 50 day moving average is $17.17 and its 200 day moving average is $14.00.

American Airlines Group (NASDAQ:AAL) last released its earnings results on Thursday, January 23rd. The airline reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.47. American Airlines Group had a negative return on equity of 28.56% and a net margin of 1.56%. As a group, equities analysts expect that American Airlines Group Inc. will post 2.39 EPS for the current year.

Insider Activity

In other news, SVP Angela Owens sold 51,906 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $17.15, for a total transaction of $890,187.90. Following the sale, the senior vice president now owns 112,412 shares of the company’s stock, valued at $1,927,865.80. This trade represents a 31.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert D. Isom, Jr. sold 102,441 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $17.21, for a total transaction of $1,763,009.61. Following the completion of the sale, the chief executive officer now owns 2,967,984 shares in the company, valued at $51,079,004.64. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

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.