Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Increases By 52.2%

Alaska Air Group, Inc. (NYSE:ALK – Get Rating) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,430,000 shares, an increase of 52.2% from the March 15th total of 2,910,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.1 days.

NYSE:ALK traded up $0.87 during trading hours on Friday, reaching $57.11. The company’s stock had a trading volume of 1,582,202 shares, compared to its average volume of 1,957,858. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 15.15 and a beta of 1.50. Alaska Air Group has a one year low of $43.46 and a one year high of $72.92. The business’s 50-day moving average is $54.98 and its 200-day moving average is $54.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.97.

Alaska Air Group (NYSE:ALK – Get Rating) last issued its quarterly earnings data on Thursday, January 27th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.07. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Alaska Air Group had a net margin of 7.74% and a negative return on equity of 7.57%. Alaska Air Group’s revenue for the quarter was up 135.0% on a year-over-year basis. During the same period in the prior year, the company posted ($2.55) earnings per share. On average, sell-side analysts predict that Alaska Air Group will post 3 EPS for the current fiscal year.

ALK has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Alaska Air Group in a research note on Tuesday, February 15th. They set an “outperform” rating and a $67.00 target price on the stock. Barclays dropped their price target on shares of Alaska Air Group from $68.00 to $61.00 in a research note on Friday, January 14th. StockNews.com initiated coverage on shares of Alaska Air Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Cowen upped their price target on shares of Alaska Air Group from $66.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 25th. Finally, Zacks Investment Research raised shares of Alaska Air Group from a “strong sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research note on Tuesday, March 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.13.

In other Alaska Air Group news, CFO Shane R. Tackett sold 2,000 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $58.84, for a total transaction of $117,680.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC boosted its holdings in Alaska Air Group by 38.5% during the third quarter. WCM Investment Management LLC now owns 230,195 shares of the transportation company’s stock valued at $13,489,000 after acquiring an additional 63,984 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Alaska Air Group by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,831 shares of the transportation company’s stock valued at $87,011,000 after acquiring an additional 21,605 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Alaska Air Group during the fourth quarter valued at about $6,773,000. Mirador Capital Partners LP bought a new stake in Alaska Air Group during the third quarter valued at about $594,000. Finally, Royal Bank of Canada boosted its holdings in Alaska Air Group by 30.7% during the third quarter. Royal Bank of Canada now owns 293,342 shares of the transportation company’s stock valued at $17,189,000 after acquiring an additional 68,941 shares during the period. Institutional investors own 73.16% of the company’s stock.

Alaska Air Group Company Profile (Get Rating)

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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