Interval Partners LP Acquires Shares of 780,036 Alaska Air Group, Inc. (NYSE:ALK)

Interval Partners LP bought a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 780,036 shares of the transportation company’s stock, valued at approximately $50,507,000. Alaska Air Group accounts for approximately 1.0% of Interval Partners LP’s holdings, making the stock its 24th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Alaska Air Group during the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC boosted its holdings in Alaska Air Group by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after buying an additional 364 shares during the period. Millstone Evans Group LLC purchased a new position in Alaska Air Group in the 4th quarter valued at approximately $76,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Alaska Air Group in the 3rd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALK. TD Cowen raised their price target on Alaska Air Group from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, April 25th. UBS Group downgraded Alaska Air Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. Susquehanna decreased their price target on 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. Citigroup lowered their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.92.

Alaska Air Group Stock Performance

NYSE:ALK opened at $51.92 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.43 and a beta of 1.41. The business has a 50 day moving average of $49.31 and a 200 day moving average of $58.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Alaska Air Group’s revenue for the quarter was up 40.5% on a year-over-year basis. During the same period last year, the company posted ($0.92) EPS. On average, sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Activity at Alaska Air Group

In other news, CFO Shane R. Tackett sold 22,893 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.74, for a total value of $1,733,915.82. Following the transaction, the chief financial officer now owns 31,873 shares in the company, valued at approximately $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Muehlen Constance E. Von sold 22,157 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $75.12, for a total transaction of $1,664,433.84. Following the sale, the chief operating officer now owns 20,026 shares of the company’s stock, valued at $1,504,353.12. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,683 shares of company stock worth $3,903,453 in the last ninety days. 1.00% of the stock is owned by company insiders.

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.