Edgestream Partners L.P. Acquires 42,221 Shares of Alaska Air Group, Inc. $ALK

Edgestream Partners L.P. boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 283.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,091 shares of the transportation company’s stock after purchasing an additional 42,221 shares during the quarter. Edgestream Partners L.P.’s holdings in Alaska Air Group were worth $2,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Alaska Air Group by 249.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,638,464 shares of the transportation company’s stock valued at $129,865,000 after buying an additional 1,882,598 shares in the last quarter. William Blair Investment Management LLC increased its stake in Alaska Air Group by 13,557.0% during the 2nd quarter. William Blair Investment Management LLC now owns 625,764 shares of the transportation company’s stock worth $30,963,000 after acquiring an additional 621,182 shares during the period. Assenagon Asset Management S.A. raised its holdings in Alaska Air Group by 2,880.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 624,035 shares of the transportation company’s stock valued at $30,877,000 after acquiring an additional 603,097 shares in the last quarter. Norges Bank bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at $21,485,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Alaska Air Group by 630.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 442,038 shares of the transportation company’s stock worth $21,757,000 after purchasing an additional 381,509 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALK. Zacks Research downgraded Alaska Air Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Alaska Air Group in a report on Monday, November 3rd. Evercore ISI dropped their target price on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, September 16th. Cantor Fitzgerald set a $65.00 price target on shares of Alaska Air Group in a research report on Monday, November 3rd. Finally, UBS Group lowered their price objective on shares of Alaska Air Group from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.42.

Alaska Air Group Trading Up 4.3%

ALK opened at $47.30 on Friday. The company has a market cap of $5.49 billion, a P/E ratio of 38.15, a PEG ratio of 0.87 and a beta of 1.24. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $44.61 and its 200-day moving average is $50.71. Alaska Air Group, Inc. has a 1-year low of $37.63 and a 1-year high of $78.08.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.06). Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the company earned $2.25 EPS. Alaska Air Group’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share 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.