New York State Common Retirement Fund Sells 3,500 Shares of Alaska Air Group, Inc. (NYSE:ALK)

New York State Common Retirement Fund lowered its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,900 shares of the transportation company’s stock after selling 3,500 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Alaska Air Group worth $6,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ALK. Valeo Financial Advisors LLC raised its stake in shares of Alaska Air Group by 3.4% in the first quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 256 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Alaska Air Group by 0.6% in 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 acquiring an additional 340 shares during the period. Hancock Whitney Corp increased its stake in Alaska Air Group by 5.8% in the 4th quarter. Hancock Whitney Corp now owns 6,848 shares of the transportation company’s stock worth $443,000 after buying an additional 376 shares during the period. Perkins Coie Trust Co increased its stake in Alaska Air Group by 125.7% in the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares during the period. Finally, Parallel Advisors LLC increased its stake in Alaska Air Group by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company’s stock worth $96,000 after buying an additional 464 shares during the period. Institutional investors own 81.90% of the company’s stock.

Insider Buying and Selling at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 7,500 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president owned 26,530 shares of the company’s stock, valued at approximately $1,419,620.30. The trade was a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the sale, the vice president directly owned 8,253 shares of the company’s stock, valued at $423,709.02. The trade was a 26.31% decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America reduced their price target 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. UBS Group began coverage on shares of Alaska Air Group in a research report on Monday, July 7th. They set a “neutral” rating and a $49.00 target price on the stock. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Susquehanna cut their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. Finally, TD Cowen raised their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Alaska Air Group Stock Down 0.0%

ALK stock opened at $53.10 on Monday. The firm has a 50 day moving average of $50.83 and a 200 day moving average of $56.29. The stock has a market capitalization of $6.52 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data 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 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 analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. The business’s revenue was up 40.5% on a year-over-year basis. Sell-side analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

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.