American Airlines Group (NASDAQ:AAL) Sees Strong Trading Volume After Earnings Beat

Posted by Defense World Staff on Jul 21st, 2023

American Airlines Group Inc. (NASDAQ:AAL – Get Free Report) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 11,387,208 shares traded hands during trading, a decline of 54% from the previous session’s volume of 24,525,158 shares.The stock last traded at $17.79 and had previously closed at $18.60.

The airline reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.33. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.74 billion. American Airlines Group had a net margin of 3.39% and a negative return on equity of 26.84%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AAL shares. Morgan Stanley boosted their target price on shares of American Airlines Group from $19.00 to $20.00 in a research report on Friday, April 28th. Citigroup boosted their price objective on shares of American Airlines Group from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, June 5th. Susquehanna decreased their price objective on shares of American Airlines Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 13th. The Goldman Sachs Group upped their target price on shares of American Airlines Group from $14.00 to $15.00 in a report on Wednesday, May 31st. Finally, StockNews.com began coverage on shares of American Airlines Group in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.57.

Insider Buying and Selling

In other news, SVP Angela Owens sold 21,984 shares of American Airlines Group stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $13.79, for a total transaction of $303,159.36. Following the completion of the sale, the senior vice president now directly owns 59,830 shares in the company, valued at approximately $825,055.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Douglas M. Steenland sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $14.10, for a total transaction of $27,495.00. Following the sale, the director now directly owns 29,736 shares in the company, valued at $419,277.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Angela Owens sold 21,984 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $13.79, for a total value of $303,159.36. Following the sale, the senior vice president now owns 59,830 shares in the company, valued at $825,055.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,934 shares of company stock valued at $358,414. 0.78% of the stock is owned by corporate insiders.

Institutional Trading of American Airlines Group

Institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of American Airlines Group during the first quarter worth $25,000. Bartlett & Co. LLC acquired a new stake in American Airlines Group during the 1st quarter worth approximately $27,000. Quent Capital LLC raised its holdings in American Airlines Group by 45.8% in the 4th quarter. Quent Capital LLC now owns 2,374 shares of the airline’s stock valued at $30,000 after acquiring an additional 746 shares in the last quarter. Kalos Management Inc. bought a new position in shares of American Airlines Group in the 1st quarter valued at $31,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in American Airlines Group during the 4th quarter worth $33,000. 57.06% of the stock is currently owned by institutional investors.

American Airlines Group Stock Performance

The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 6.89 and a beta of 1.56. The company has a fifty day simple moving average of $16.28 and a 200 day simple moving average of $15.44.

About American Airlines Group

(Get Free Report)

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.