Alaska Air Group, Inc. (NYSE:ALK) Short Interest Up 6.4% in August

Alaska Air Group, Inc. (NYSE:ALKGet Rating) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,990,000 shares, a growth of 6.4% from the August 15th total of 2,810,000 shares. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is currently 2.0 days.

Alaska Air Group Stock Performance

Shares of ALK opened at $43.49 on Thursday. 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 stock has a market cap of $5.48 billion, a P/E ratio of 26.85 and a beta of 1.44. The company has a 50-day moving average of $44.92 and a two-hundred day moving average of $47.60. Alaska Air Group has a 12-month low of $38.19 and a 12-month high of $63.76.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors have recently modified their holdings of the company. Ieq Capital LLC raised its position in shares of Alaska Air Group by 4.8% in the first quarter. Ieq Capital LLC now owns 4,505 shares of the transportation company’s stock valued at $261,000 after buying an additional 206 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Alaska Air Group by 0.7% in the first quarter. State of Michigan Retirement System now owns 31,762 shares of the transportation company’s stock valued at $1,843,000 after buying an additional 231 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Alaska Air Group by 34.0% in the first quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company’s stock valued at $53,000 after buying an additional 231 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in Alaska Air Group by 10.4% in the first quarter. Belpointe Asset Management LLC now owns 2,495 shares of the transportation company’s stock valued at $145,000 after purchasing an additional 236 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Alaska Air Group by 20.3% during the first quarter. Daiwa Securities Group Inc. now owns 1,400 shares of the transportation company’s stock worth $81,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 76.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ALK shares. Susquehanna Bancshares lowered their target price on shares of Alaska Air Group from $68.00 to $50.00 and set a “positive” rating on the stock in a report on Tuesday, July 12th. Barclays lowered their target price on shares of Alaska Air Group from $61.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Evercore ISI reduced their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, June 27th. Raymond James cut shares of Alaska Air Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $75.00 to $58.00 in a research note on Thursday, June 23rd. Finally, StockNews.com upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. 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.com, Alaska Air Group has an average 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.

Further Reading

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