Massachusetts Financial Services Co. MA Boosts Holdings in Alaska Air Group, Inc. $ALK

Massachusetts Financial Services Co. MA lifted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 18.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,374,501 shares of the transportation company’s stock after buying an additional 368,511 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.06% of Alaska Air Group worth $118,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. MAI Capital Management grew its position in Alaska Air Group by 80.5% in the second quarter. MAI Capital Management now owns 628 shares of the transportation company’s stock worth $31,000 after acquiring an additional 280 shares during the period. Country Trust Bank acquired a new position in shares of Alaska Air Group in the 3rd quarter valued at $45,000. Rexford Capital Inc. purchased a new position in shares of Alaska Air Group during the 2nd quarter worth $49,000. Total Investment Management Inc. purchased a new position in shares of Alaska Air Group during the 2nd quarter worth $61,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Alaska Air Group during the 3rd quarter worth about $63,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $47.58 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. Alaska Air Group, Inc. has a 52 week low of $37.63 and a 52 week high of $78.08. The stock has a market capitalization of $5.52 billion, a PE ratio of 38.37, a P/E/G ratio of 0.50 and a beta of 1.22. The firm has a 50 day moving average of $47.52 and a two-hundred day moving average of $50.82.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data 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). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The firm’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 EPS. On average, research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALK shares. Citigroup reaffirmed a “buy” rating and issued a $69.00 target price (up previously from $61.00) on shares of Alaska Air Group in a research report on Wednesday, January 7th. Wall Street Zen lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Cowen reaffirmed a “buy” rating on shares of Alaska Air Group in a research report on Monday, November 3rd. UBS Group set a $77.00 target price on Alaska Air Group and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Alaska Air Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.