Fifth Third Bancorp Acquires 945 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Fifth Third Bancorp increased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 96.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,926 shares of the transportation company’s stock after acquiring an additional 945 shares during the quarter. Fifth Third Bancorp’s holdings in Alaska Air Group were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in Alaska Air Group by 328.7% in the fourth quarter. FMR LLC now owns 4,649,388 shares of the transportation company’s stock worth $301,048,000 after purchasing an additional 3,564,749 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Alaska Air Group by 134.0% during the 4th quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company’s stock valued at $138,191,000 after purchasing an additional 1,222,277 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Alaska Air Group by 4,615.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company’s stock valued at $61,063,000 after purchasing an additional 923,064 shares during the last quarter. Candlestick Capital Management LP bought a new position in shares of Alaska Air Group during the 4th quarter valued at approximately $51,306,000. Finally, Interval Partners LP bought a new position in Alaska Air Group in the 4th quarter valued at $50,507,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Up 0.4%

Alaska Air Group stock opened at $46.88 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of 17.05, a PEG ratio of 0.48 and a beta of 1.44. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The stock has a 50-day simple moving average of $48.87 and a 200-day simple moving average of $58.09.

Alaska Air Group (NYSE:ALK) last announced its earnings results 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 firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned ($0.92) earnings per share. The firm’s revenue for the quarter was up 40.5% compared to the same quarter last year. Equities research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. TD Cowen increased their price target on Alaska Air Group from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Bank of America reduced their price objective 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. Citigroup reduced their price objective on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. UBS Group cut Alaska Air Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. Finally, Susquehanna dropped their target price on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

Insider Activity at Alaska Air Group

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

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.