NewEdge Advisors LLC Has $58,000 Stake in Alaska Air Group, Inc. (NYSE:ALK)

NewEdge Advisors LLC cut its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 88.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 895 shares of the transportation company’s stock after selling 7,146 shares during the quarter. NewEdge Advisors LLC’s holdings in Alaska Air Group were worth $58,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Avior Wealth Management LLC lifted its stake in shares of Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Alaska Air Group in the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB bought a new position in shares of Alaska Air Group during the 3rd quarter worth $59,000. EverSource Wealth Advisors LLC boosted its position in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after purchasing an additional 364 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Alaska Air Group in the 4th quarter worth approximately $76,000. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Trading Up 5.7 %

Alaska Air Group stock opened at $46.93 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41. The business’s fifty day simple moving average is $51.24 and its two-hundred day simple moving average is $57.93. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company posted ($0.92) earnings per share. The business’s revenue was up 40.5% compared to the same quarter last year. As a group, equities analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALK shares. JPMorgan Chase & Co. raised their target price on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Susquehanna reduced their target price on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group lifted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Bank of America lowered their target price on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, TD Cowen upped their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and an average target price of $65.92.

Insider Activity

In related news, COO Muehlen Constance E. Von sold 22,157 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $75.12, for a total value of $1,664,433.84. Following the completion of the sale, the chief operating officer now directly owns 20,026 shares of the company’s stock, valued at approximately $1,504,353.12. This represents a 52.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 6,600 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the transaction, the executive vice president now owns 34,030 shares of the company’s stock, valued at approximately $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,650 shares of company stock valued at $3,901,798 over the last three months. Insiders own 1.00% of the company’s stock.

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.