Rhumbline Advisers raised its holdings in Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,426 shares of the transportation company’s stock after buying an additional 8,006 shares during the quarter. Rhumbline Advisers owned about 0.20% of Alaska Air Group worth $10,550,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. WealthPLAN Partners LLC bought a new stake in shares of Alaska Air Group during the first quarter valued at approximately $30,000. Ten Capital Wealth Advisors LLC boosted its position in shares of Alaska Air Group by 174.4% during the fourth quarter. Ten Capital Wealth Advisors LLC now owns 741 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 471 shares in the last quarter. Covestor Ltd boosted its position in shares of Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 458 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $55,000. Finally, EMC Capital Management bought a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $73,000. 80.58% of the stock is currently owned by institutional investors.
Insider Activity at Alaska Air Group
In related news, CEO Benito Minicucci sold 5,000 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $48.73, for a total transaction of $243,650.00. Following the completion of the sale, the chief executive officer now owns 114,506 shares in the company, valued at $5,579,877.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by company insiders.
Alaska Air Group Stock Down 0.5 %
Alaska Air Group (NYSE:ALK – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.29. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Alaska Air Group had a return on equity of 19.66% and a net margin of 1.55%. Alaska Air Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.19 earnings per share. Equities analysts forecast that Alaska Air Group, Inc. will post 6.59 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on ALK. Citigroup lifted their price target on Alaska Air Group from $58.50 to $64.25 in a research report on Tuesday, July 11th. Barclays lowered their price objective on Alaska Air Group from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, July 25th. Bank of America lifted their price objective on Alaska Air Group from $58.00 to $62.00 in a research note on Monday, June 26th. JPMorgan Chase & Co. lowered their price objective on Alaska Air Group from $91.00 to $70.00 in a research note on Monday, May 8th. Finally, StockNews.com initiated coverage on Alaska Air Group in a research note on Thursday, August 17th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.03.
Alaska Air Group Profile
Alaska Air Group, Inc, through its subsidiaries, operated airlines. The company operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing and Airbus jet aircraft for passengers and cargo throughout the United States, and in parts of Mexico, Costa Rica, and Belize; and for passengers across a shorter distance network within the United States and Canada.
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