Farther Finance Advisors LLC Purchases 1,261 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Farther Finance Advisors LLC boosted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,643 shares of the transportation company’s stock after purchasing an additional 1,261 shares during the period. Farther Finance Advisors LLC’s holdings in Alaska Air Group were worth $277,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ALK. Perkins Coie Trust Co grew its holdings in Alaska Air Group by 125.7% during the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in Alaska Air Group during the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. bought a new position in Alaska Air Group during the 4th quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its holdings in Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 364 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Alaska Air Group by 459.1% during the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,065 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

Insider Activity at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the sale, the vice president now owns 8,253 shares of the company’s stock, valued at $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $53.51, for a total transaction of $401,325.00. Following the sale, the executive vice president now directly owns 26,530 shares of the company’s stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,479 shares of company stock valued at $554,228 over the last 90 days. Insiders own 1.00% of the company’s stock.

Alaska Air Group Price Performance

NYSE ALK opened at $46.88 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. The firm’s 50 day moving average price is $48.82 and its 200-day moving average price is $58.13. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a market cap of $5.75 billion, a PE ratio of 17.05, a P/E/G ratio of 0.47 and a beta of 1.44.

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 analysts’ consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a net margin of 2.86% and a return on equity of 15.01%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the business posted ($0.92) earnings per share. Alaska Air Group’s revenue for the quarter was up 40.5% on a year-over-year basis. Sell-side analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on ALK shares. Susquehanna cut their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a report on Monday, April 7th. Citigroup dropped their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Bank of America dropped their target price on shares of Alaska Air Group from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Finally, TD Cowen upped their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

Alaska Air Group Company 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.