California Public Employees Retirement System Cuts Position in Alaska Air Group, Inc. (NYSE:ALK)

California Public Employees Retirement System trimmed its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 5.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 213,377 shares of the transportation company’s stock after selling 11,703 shares during the period. California Public Employees Retirement System’s holdings in Alaska Air Group were worth $8,337,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in Alaska Air Group by 215.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Alaska Air Group by 255.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Alaska Air Group by 456.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after acquiring an additional 748 shares during the last quarter. Allworth Financial LP lifted its position in Alaska Air Group by 63.4% in the 3rd quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 503 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Alaska Air Group in the 3rd quarter worth $69,000. 81.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALK has been the topic of several research analyst reports. UBS Group began coverage on Alaska Air Group in a report on Wednesday, March 20th. They set a “buy” rating and a $54.00 price target on the stock. Bank of America boosted their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. Melius lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, TD Cowen increased their price target on shares of Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.85.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $42.69 on Friday. Alaska Air Group, Inc. has a one year low of $30.75 and a one year high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.56 and a beta of 1.60. The stock has a 50 day moving average price of $40.75 and a 200-day moving average price of $37.79.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.62) earnings per share. Equities analysts expect that Alaska Air Group, Inc. will post 4.68 EPS for the current year.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the transaction, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.68% of the company’s stock.

Alaska Air Group Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.