Permanent Capital Management LP Purchases Shares of 12,395 Alaska Air Group, Inc. $ALK

Permanent Capital Management LP acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,395 shares of the transportation company’s stock, valued at approximately $617,000.

Several other large investors have also modified their holdings of the stock. MAI Capital Management raised its stake in Alaska Air Group by 80.5% during the 2nd quarter. MAI Capital Management now owns 628 shares of the transportation company’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Rexford Capital Inc. purchased a new position in shares of Alaska Air Group during the second quarter worth about $49,000. Total Investment Management Inc. purchased a new position in shares of Alaska Air Group during the second quarter worth about $61,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Alaska Air Group during the third quarter worth about $63,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Alaska Air Group by 85.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,308 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 602 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALK has been the topic of a number of research reports. TD Cowen raised their price target on Alaska Air Group from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Citigroup began coverage on shares of Alaska Air Group in a research report on Thursday, December 4th. They set a “buy” rating and a $61.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alaska Air Group in a report on Monday, December 22nd. Zacks Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Evercore ISI lowered their price objective on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $69.73.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $51.46 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.52 and a quick ratio of 0.49. The business has a 50 day simple moving average of $45.39 and a 200-day simple moving average of $50.71. Alaska Air Group, Inc. has a 12 month low of $37.63 and a 12 month high of $78.08. The stock has a market capitalization of $5.97 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.24.

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

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.