American Airlines Group Inc. (NASDAQ:AAL) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 72,510,000 shares, a drop of 24.1% from the October 31st total of 95,590,000 shares. Based on an average trading volume of 29,510,000 shares, the short-interest ratio is presently 2.5 days. Approximately 11.3% of the company’s shares are sold short.
A number of research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of American Airlines Group from $21.50 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, October 26th. The Goldman Sachs Group cut shares of American Airlines Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $18.00 in a research report on Wednesday, October 6th. Morgan Stanley upped their price objective on shares of American Airlines Group from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, September 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $23.00 price objective on shares of American Airlines Group in a report on Friday, August 6th. Finally, Redburn Partners began coverage on shares of American Airlines Group in a research report on Wednesday, August 11th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.92.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Evolution Wealth Advisors LLC lifted its position in shares of American Airlines Group by 71.4% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 1,200 shares of the airline’s stock worth…