Fifth Third Bancorp Has $198,000 Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Fifth Third Bancorp decreased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,053 shares of the transportation company’s stock after selling 299 shares during the period. Fifth Third Bancorp’s holdings in Alaska Air Group were worth $198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Belpointe Asset Management LLC lifted its position in Alaska Air Group by 10.5% during the 2nd quarter. Belpointe Asset Management LLC now owns 2,758 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 263 shares during the period. Crewe Advisors LLC lifted its position in Alaska Air Group by 41.0% during the 2nd quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 267 shares during the period. Parallel Advisors LLC lifted its position in Alaska Air Group by 26.3% during the 2nd quarter. Parallel Advisors LLC now owns 1,332 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 277 shares during the period. Cibc World Market Inc. lifted its position in Alaska Air Group by 0.6% during the 2nd quarter. Cibc World Market Inc. now owns 50,116 shares of the transportation company’s stock valued at $2,007,000 after purchasing an additional 292 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Alaska Air Group by 19.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALK. Cowen cut their target price on shares of 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. The Goldman Sachs Group assumed coverage on Alaska Air Group in a research note on Friday, December 16th. They issued a “buy” rating and a $60.00 price target for the company. Cowen lowered their price target on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Raymond James upped their price target on Alaska Air Group from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, January 5th. Finally, StockNews.com cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, January 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

Alaska Air Group Price Performance

Shares of ALK opened at $47.70 on Thursday. The stock has a market capitalization of $6.05 billion, a P/E ratio of 119.25 and a beta of 1.43. Alaska Air Group, Inc. has a twelve month low of $38.19 and a twelve month high of $61.55. The company has a 50 day moving average of $45.06 and a 200-day moving average of $43.93. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.49.

Alaska Air Group (NYSE:ALK – Get Rating) last issued 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 $2.41 by $0.12. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Alaska Air Group had a net margin of 0.60% and a return on equity of 12.45%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period last year, the business earned $1.47 EPS. As a group, equities research analysts forecast that Alaska Air Group, Inc. will post 4.33 EPS for the current fiscal year.

Alaska Air Group Company Profile

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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.