Mercer Global Advisors Inc. ADV Has $425,000 Stake in Alaska Air Group, Inc. (NYSE:ALK)

Posted by Defense World Staff on May 23rd, 2023

Mercer Global Advisors Inc. ADV trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,888 shares of the transportation company’s stock after selling 290 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Alaska Air Group were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALK. Private Advisor Group LLC increased its holdings in Alaska Air Group by 78.2% in the first quarter. Private Advisor Group LLC now owns 9,980 shares of the transportation company’s stock valued at $579,000 after purchasing an additional 4,379 shares during the period. MetLife Investment Management LLC increased its holdings in Alaska Air Group by 23.6% in the first quarter. MetLife Investment Management LLC now owns 34,204 shares of the transportation company’s stock valued at $1,984,000 after purchasing an additional 6,520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Alaska Air Group by 7.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,847 shares of the transportation company’s stock valued at $977,000 after purchasing an additional 1,119 shares during the period. APG Asset Management N.V. bought a new stake in Alaska Air Group during the first quarter valued at $980,000. Finally, Great West Life Assurance Co. Can boosted its position in Alaska Air Group by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 17,972 shares of the transportation company’s stock valued at $1,077,000 after acquiring an additional 592 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $44.92 on Tuesday. Alaska Air Group, Inc. has a fifty-two week low of $37.19 and a fifty-two week high of $53.96. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 97.65, a PEG ratio of 0.29 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.62 and a current ratio of 0.64. The firm’s 50-day simple moving average is $42.25 and its 200 day simple moving average is $45.44.

Alaska Air Group (NYSE:ALK – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The transportation company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.14). Alaska Air Group had a net margin of 0.58% and a return on equity of 17.03%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business posted ($1.33) EPS. Alaska Air Group’s revenue was up 30.6% compared to the same quarter last year. As a group, research analysts anticipate that Alaska Air Group, Inc. will post 6.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ALK. Morgan Stanley upped their price target on shares of Alaska Air Group from $71.00 to $75.00 in a research report on Monday, April 24th. Wolfe Research cut shares of Alaska Air Group from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 27th. Susquehanna upped their price target on shares of Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a research report on Thursday, February 2nd. Raymond James raised shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $60.00 to $68.00 in a research report on Monday, April 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Alaska Air Group from $91.00 to $70.00 in a research report on Monday, May 8th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.86.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $48.58, for a total value of $170,030.00. Following the completion of the sale, the director now owns 29,907 shares in the company, valued at approximately $1,452,882.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.68% of the stock is owned by 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.