Alaska Air Group, Inc. $ALK Stock Holdings Boosted by Strs Ohio

Strs Ohio lifted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 12.5% in the 2nd quarter, Holdings Channel reports. The fund owned 121,509 shares of the transportation company’s stock after buying an additional 13,546 shares during the period. Strs Ohio’s holdings in Alaska Air Group were worth $6,012,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its position in shares of Alaska Air Group by 2,162.3% during the second quarter. Assetmark Inc. now owns 1,380 shares of the transportation company’s stock worth $68,000 after acquiring an additional 1,319 shares during the last quarter. Mayflower Financial Advisors LLC bought a new position in shares of Alaska Air Group during the second quarter worth about $260,000. ARGA Investment Management LP grew its position in shares of Alaska Air Group by 7.2% during the second quarter. ARGA Investment Management LP now owns 1,099,190 shares of the transportation company’s stock worth $54,388,000 after acquiring an additional 74,137 shares during the last quarter. Freedom Investment Management Inc. grew its position in shares of Alaska Air Group by 33.6% during the second quarter. Freedom Investment Management Inc. now owns 9,588 shares of the transportation company’s stock worth $474,000 after acquiring an additional 2,411 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Alaska Air Group by 8.1% during the second quarter. D.A. Davidson & CO. now owns 203,227 shares of the transportation company’s stock worth $10,056,000 after acquiring an additional 15,301 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Insider Transactions at Alaska Air Group

In other news, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total transaction of $285,300.00. Following the completion of the sale, the chief financial officer directly owned 43,335 shares of the company’s stock, valued at $2,472,695.10. This represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kyle B. Levine sold 5,914 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the sale, the senior vice president directly owned 20,917 shares of the company’s stock, valued at approximately $1,207,956.75. This represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their price target on Alaska Air Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Evercore ISI reduced their price target on 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. Zacks Research lowered Alaska Air Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Alaska Air Group from $73.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Susquehanna set a $58.00 price target on Alaska Air Group and gave the stock a “positive” rating in a research report on Friday, October 3rd. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.55.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $41.68 on Monday. Alaska Air Group, Inc. has a twelve month low of $39.79 and a twelve month high of $78.08. 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 has a market capitalization of $4.81 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 0.80 and a beta of 1.40. The firm has a 50-day moving average of $53.42 and a two-hundred day moving average of $51.80.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company posted $2.25 earnings per share. Alaska Air Group’s revenue was up 22.6% compared to the same quarter last year. As a group, analysts expect 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.