Creative Planning reduced its position in shares of Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,996 shares of the transportation company’s stock after selling 1,533 shares during the period. Creative Planning’s holdings in Alaska Air Group were worth $2,260,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group in the second quarter worth $28,000. Pacifica Partners Inc. increased its position in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Alaska Air Group in the second quarter worth $69,000. Halpern Financial Inc. acquired a new stake in Alaska Air Group in the second quarter worth $81,000. Finally, GAMMA Investing LLC increased its position in Alaska Air Group by 31.7% in the second quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after buying an additional 626 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ALK. Bank of America increased their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Morgan Stanley decreased their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Susquehanna increased their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Citigroup decreased their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Barclays started coverage on Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has a consensus rating of “Moderate Buy” and an average target price of $53.80.
Alaska Air Group Trading Down 0.2 %
Shares of ALK stock opened at $45.54 on Monday. The stock has a 50-day simple moving average of $40.93 and a 200 day simple moving average of $40.63. Alaska Air Group, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $46.87. The stock has a market capitalization of $5.78 billion, a P/E ratio of 24.35, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.
About Alaska Air Group
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.
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