M&T Bank Corp Boosts Stake in Alaska Air Group, Inc. (NYSE:ALK)

M&T Bank Corp boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALKGet Rating) by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,336 shares of the transportation company’s stock after buying an additional 694 shares during the period. M&T Bank Corp’s holdings in Alaska Air Group were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Alaska Air Group by 1.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,524,651 shares of the transportation company’s stock worth $88,445,000 after purchasing an additional 27,679 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Alaska Air Group by 73.5% during the first quarter. Kestra Advisory Services LLC now owns 8,307 shares of the transportation company’s stock worth $482,000 after purchasing an additional 3,519 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alaska Air Group by 23.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,157 shares of the transportation company’s stock worth $567,000 after purchasing an additional 2,713 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Alaska Air Group by 2.2% during the first quarter. Mutual of America Capital Management LLC now owns 57,501 shares of the transportation company’s stock worth $3,336,000 after purchasing an additional 1,254 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Alaska Air Group during the first quarter worth $216,000. 76.13% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

Shares of ALK opened at $46.85 on Wednesday. The business’s 50-day moving average is $43.25 and its two-hundred day moving average is $44.21. The company has a market capitalization of $5.94 billion, a P/E ratio of 117.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.79 and a current ratio of 0.81. Alaska Air Group, Inc. has a fifty-two week low of $38.19 and a fifty-two week high of $61.55.

Alaska Air Group (NYSE:ALKGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The transportation company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.14. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Alaska Air Group had a return on equity of 12.45% and a net margin of 0.60%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. Research analysts predict that Alaska Air Group, Inc. will post 4.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 3,275 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $45.90, for a total transaction of $150,322.50. Following the sale, the executive vice president now directly owns 10,877 shares of the company’s stock, valued at approximately $499,254.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALK shares. StockNews.com raised Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 1st. Morgan Stanley cut their target price on Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Cowen cut their target price on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Melius began coverage on Alaska Air Group in a research report on Monday, August 15th. They issued a “buy” rating on the stock. Finally, Cowen cut their target price on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.30.

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

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