Pictet Asset Management SA decreased its position in Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 24.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 76,479 shares of the transportation company’s stock after selling 24,534 shares during the period. Pictet Asset Management SA owned about 0.06% of Alaska Air Group worth $3,063,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Charter Oak Capital Management LLC acquired a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $30,000. Covestor Ltd increased its position in shares of Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $35,000. Crewe Advisors LLC increased its position in shares of Alaska Air Group by 41.0% during the 2nd quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock worth $37,000 after purchasing an additional 267 shares during the last quarter. Finally, Capital Wealth Alliance LLC acquired a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $46,000. Institutional investors own 76.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ALK. Melius began coverage on Alaska Air Group in a research report on Monday, August 15th. They set a “buy” rating on the stock. Morgan Stanley decreased their target price on Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Cowen decreased their target price on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. StockNews.com raised Alaska Air Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 1st. Finally, Cowen decreased their target price on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.30.
Alaska Air Group Stock Performance
Alaska Air Group (NYSE:ALK – Get Rating) last issued its quarterly earnings data on Thursday, October 20th. The transportation company reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.14. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. Alaska Air Group had a return on equity of 12.45% and a net margin of 0.60%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. On average, equities analysts forecast that Alaska Air Group, Inc. will post 4.36 EPS for the current year.
In other news, EVP Andrew R. Harrison sold 3,275 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $45.90, for a total transaction of $150,322.50. Following the completion of the sale, the executive vice president now directly owns 10,877 shares in the company, valued at approximately $499,254.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
Alaska Air Group Profile
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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