Rhumbline Advisers grew its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,036 shares of the transportation company's stock after acquiring an additional 44,688 shares during the quarter. Rhumbline Advisers owned about 0.28% of Alaska Air Group worth $16,933,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in ALK. Wood Tarver Financial Group LLC acquired a new position in Alaska Air Group in the fourth quarter valued at $38,000. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the fourth quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its stake in shares of Alaska Air Group by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock valued at $62,000 after buying an additional 364 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Alaska Air Group in the fourth quarter valued at about $76,000. Finally, Parallel Advisors LLC boosted its holdings in Alaska Air Group by 31.2% in the first quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company's stock valued at $96,000 after purchasing an additional 464 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on ALK. Citigroup reduced their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Barclays lowered their target price on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Bank of America lowered their price target on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, TD Cowen lifted their target price on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.83.
View Our Latest Research Report on ALK
Insiders Place Their Bets
In other news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president now directly owns 26,530 shares of the company's stock, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the sale, the vice president now directly owns 8,253 shares of the company's stock, valued at $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is currently owned by company insiders.
Alaska Air Group Stock Down 4.6%
Shares of ALK traded down $2.40 during midday trading on Wednesday, reaching $49.18. 3,273,532 shares of the stock were exchanged, compared to its average volume of 2,835,390. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08. The firm has a 50 day simple moving average of $48.56 and a 200-day simple moving average of $58.31. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 0.43 and a beta of 1.44.
Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The business's quarterly revenue was up 40.5% compared to the same quarter last year. During the same period last year, the business earned ($0.92) EPS. Research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.
Alaska Air Group Profile
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Free Report)
Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.
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