Bank of New York Mellon Corp Has $32.15 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Bank of New York Mellon Corp lessened its stake in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 13.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 821,114 shares of the transportation company’s stock after selling 126,037 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Alaska Air Group worth $32,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System grew its stake in Alaska Air Group by 25.1% during the third quarter. California Public Employees Retirement System now owns 294,763 shares of the transportation company’s stock worth $11,540,000 after buying an additional 59,220 shares in the last quarter. CIBC Asset Management Inc grew its stake in Alaska Air Group by 10.7% during the third quarter. CIBC Asset Management Inc now owns 15,664 shares of the transportation company’s stock worth $613,000 after purchasing an additional 1,509 shares during the period. Echo Street Capital Management LLC grew its position in shares of Alaska Air Group by 157.8% during the 2nd quarter. Echo Street Capital Management LLC now owns 11,650 shares of the transportation company’s stock worth $467,000 after buying an additional 7,131 shares during the period. Rhumbline Advisers increased its stake in Alaska Air Group by 12.1% in the second quarter. Rhumbline Advisers now owns 223,112 shares of the transportation company’s stock valued at $8,936,000 after purchasing an additional 24,110 shares in the last quarter. Finally, Barclays PLC increased its position in Alaska Air Group by 147.9% in the 3rd quarter. Barclays PLC now owns 138,043 shares of the transportation company’s stock valued at $5,405,000 after buying an additional 82,363 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Alaska Air Group Stock Performance

NYSE ALK opened at $44.08 on Tuesday. The company’s 50 day simple moving average is $48.92 and its two-hundred day simple moving average is $45.71. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.65. Alaska Air Group, Inc. has a 1 year low of $38.19 and a 1 year high of $61.55. The stock has a market capitalization of $5.62 billion, a PE ratio of 102.51, a P/E/G ratio of 0.40 and a beta of 1.54.

Alaska Air Group (NYSE:ALK – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.51 billion. Alaska Air Group had a return on equity of 14.75% and a net margin of 0.60%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Analysts predict that Alaska Air Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Susquehanna increased their price target on Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a research report on Thursday, February 2nd. Wolfe Research cut Alaska Air Group from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 27th. Morgan Stanley lifted their price objective on Alaska Air Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. The Goldman Sachs Group began coverage on shares of Alaska Air Group in a report on Friday, December 16th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Barclays raised shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $62.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.05.

Insider Buying and Selling

In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of Alaska Air Group stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $50.81, for a total transaction of $81,092.76. Following the completion of the sale, the senior vice president now directly owns 15,747 shares in the company, valued at $800,105.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

Alaska Air Group Profile

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.