Cambridge Investment Research Advisors Inc. Increases Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Cambridge Investment Research Advisors Inc. increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 416.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,499 shares of the transportation company’s stock after buying an additional 24,592 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Alaska Air Group were worth $1,501,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in Alaska Air Group by 0.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock valued at $3,231,000 after purchasing an additional 147 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Alaska Air Group by 1.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after purchasing an additional 254 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Alaska Air Group by 6.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,381 shares of the transportation company’s stock valued at $348,000 after purchasing an additional 332 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Alaska Air Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company’s stock valued at $3,572,000 after purchasing an additional 340 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 valued at $62,000 after purchasing an additional 364 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALK shares. UBS Group downgraded shares of Alaska Air Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. Susquehanna decreased 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 research note on Monday, April 7th. Bank of America cut their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Citigroup cut their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Barclays cut their price objective on shares of Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $53.51, for a total transaction of $401,325.00. Following the transaction, the executive vice president directly owned 26,530 shares in the company, valued at $1,419,620.30. This represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the transaction, the vice president owned 8,253 shares in the company, valued at approximately $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 sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is owned by insiders.

Alaska Air Group Stock Up 0.3%

Shares of Alaska Air Group stock opened at $51.01 on Friday. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a 50 day moving average of $49.77 and a 200 day moving average of $57.45. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $6.26 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.53 and a beta of 1.41.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The firm’s quarterly revenue was up 40.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.92) EPS. As a group, research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

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.