M&T Bank Corp Grows Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

M&T Bank Corp increased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,843 shares of the transportation company’s stock after buying an additional 1,208 shares during the period. M&T Bank Corp’s holdings in Alaska Air Group were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ALK. Perkins Coie Trust Co lifted its holdings in shares of Alaska Air Group by 125.7% in the first 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 in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Alaska Air Group in the fourth quarter valued at about $38,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Alaska Air Group by 61.6% in 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. UMB Bank n.a. lifted its holdings in shares of Alaska Air Group by 459.1% in the first 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 in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Alaska Air Group in the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Down 2.4%

ALK opened at $51.66 on Wednesday. The stock has a fifty day moving average of $50.76 and a 200-day moving average of $56.60. The company has a market capitalization of $6.34 billion, a P/E ratio of 18.78, a P/E/G ratio of 0.57 and a beta of 1.41. 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.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the firm posted ($0.92) EPS. The firm’s revenue was up 40.5% compared to the same quarter last year. On average, equities analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the sale, the vice president owned 8,253 shares of the company’s stock, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the transaction, the executive vice president directly owned 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. In the last quarter, insiders sold 10,479 shares of company stock valued at $554,228. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, April 25th. UBS Group assumed coverage on shares of Alaska Air Group in a research note on Monday, July 7th. They set a “neutral” rating and a $49.00 price objective on the stock. Citigroup reduced their price objective 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. Barclays increased their price target on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Bank of America dropped 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and an average target price of $66.83.

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.