American Trust Buys Shares of 3,573 Alaska Air Group, Inc. (NYSE:ALK)

American Trust bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALKGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,573 shares of the transportation company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its stake in shares of Alaska Air Group by 29.6% in the 4th quarter. HighTower Advisors LLC now owns 18,723 shares of the transportation company’s stock worth $966,000 after buying an additional 4,276 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Alaska Air Group by 21.8% in the 4th quarter. Teacher Retirement System of Texas now owns 6,098 shares of the transportation company’s stock worth $318,000 after buying an additional 1,091 shares in the last quarter. Pictet Asset Management SA raised its stake in shares of Alaska Air Group by 7.3% in the 4th quarter. Pictet Asset Management SA now owns 58,856 shares of the transportation company’s stock worth $3,066,000 after buying an additional 4,021 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alaska Air Group by 7.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,751,128 shares of the transportation company’s stock worth $91,234,000 after buying an additional 118,254 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Alaska Air Group by 4.3% in the 4th quarter. Rhumbline Advisers now owns 213,605 shares of the transportation company’s stock worth $11,129,000 after buying an additional 8,872 shares in the last quarter. Institutional investors own 76.13% of the company’s stock.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.78 on Tuesday. Alaska Air Group, Inc. has a 1-year low of $38.19 and a 1-year high of $63.76. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 28.26 and a beta of 1.44. The stock’s fifty day simple moving average is $44.81 and its 200-day simple moving average is $47.64.

Alaska Air Group (NYSE:ALKGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.24. Alaska Air Group had a return on equity of 8.97% and a net margin of 2.54%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Alaska Air Group’s revenue for the quarter was up 74.1% compared to the same quarter last year. On average, sell-side analysts predict that Alaska Air Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 2,267 shares of Alaska Air Group stock in a transaction on Friday, July 29th. The stock was sold at an average price of $44.13, for a total transaction of $100,042.71. Following the transaction, the executive vice president now owns 14,152 shares in the company, valued at $624,527.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,267 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $44.13, for a total value of $100,042.71. Following the transaction, the executive vice president now owns 14,152 shares in the company, valued at $624,527.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 3,275 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $45.90, for a total value of $150,322.50. Following the completion of the transaction, the executive vice president now owns 10,877 shares in the company, valued at approximately $499,254.30. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALK shares. Raymond James downgraded Alaska Air Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $75.00 to $58.00 in a research note on Thursday, June 23rd. Morgan Stanley dropped their price objective on Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Susquehanna Bancshares cut their target price on Alaska Air Group from $68.00 to $50.00 and set a “positive” rating on the stock in a research report on Tuesday, July 12th. Melius started coverage on Alaska Air Group in a research report on Monday, August 15th. They set a “buy” rating on the stock. Finally, Evercore ISI cut their target price on Alaska Air Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.44.

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.

See Also

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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