Commonwealth Equity Services LLC Has $2.77 Million Stake in Alaska Air Group, Inc. (NYSE:ALK)

Commonwealth Equity Services LLC grew its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 15.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,932 shares of the transportation company’s stock after acquiring an additional 8,676 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Alaska Air Group worth $2,766,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALK. WealthPLAN Partners LLC acquired a new position in Alaska Air Group during the first quarter worth about $30,000. Ten Capital Wealth Advisors LLC raised its stake in 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 worth $32,000 after acquiring an additional 471 shares in the last quarter. Covestor Ltd raised its stake in Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after acquiring an additional 458 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Alaska Air Group during the fourth quarter worth about $55,000. Finally, EMC Capital Management acquired a new position in Alaska Air Group during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 80.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALK shares. Bank of America upped their price objective on Alaska Air Group from $58.00 to $62.00 in a research note on Monday, June 26th. The Goldman Sachs Group lowered their price objective on Alaska Air Group from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. 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. Citigroup upped their price objective on Alaska Air Group from $58.50 to $64.25 in a research note on Tuesday, July 11th. Finally, Susquehanna lowered their price objective on Alaska Air Group from $65.00 to $58.00 in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.03.

Insider Activity at Alaska Air Group

In related news, CEO Benito Minicucci sold 5,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $48.73, for a total value of $243,650.00. Following the completion of the sale, the chief executive officer now directly owns 114,506 shares of the company’s stock, valued at approximately $5,579,877.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Alaska Air Group Price Performance

Shares of ALK opened at $40.34 on Wednesday. Alaska Air Group, Inc. has a 12-month low of $37.19 and a 12-month high of $57.18. The business’s fifty day moving average is $48.44 and its 200 day moving average is $46.06. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.13 billion, a P/E ratio of 32.80, a P/E/G ratio of 0.28 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Tuesday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.29. Alaska Air Group had a return on equity of 19.66% and a net margin of 1.55%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business earned $2.19 EPS. Alaska Air Group’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Alaska Air Group, Inc. will post 6.59 earnings per share for the current fiscal year.

About Alaska Air Group

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.