Bank of New York Mellon Corp Has $45.07 Million Holdings in Alaska Air Group, Inc. $ALK

Bank of New York Mellon Corp decreased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 910,859 shares of the transportation company’s stock after selling 61,079 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alaska Air Group were worth $45,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ALK. Brooklyn Investment Group increased its holdings in shares of Alaska Air Group by 41.1% during the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Assetmark Inc. lifted its holdings in Alaska Air Group by 2,162.3% during the 2nd quarter. Assetmark Inc. now owns 1,380 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 1,319 shares during the last quarter. Headlands Technologies LLC bought a new position in Alaska Air Group during the first quarter worth $71,000. State of Wyoming acquired a new position in shares of Alaska Air Group in the first quarter valued at $92,000. Finally, UMB Bank n.a. raised its position in shares of Alaska Air Group by 71.9% in the second quarter. UMB Bank n.a. now owns 2,230 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 933 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Saturday. Susquehanna set a $58.00 price objective on Alaska Air Group and gave the stock a “positive” rating in a report on Friday, October 3rd. Evercore ISI decreased their target price on 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. Weiss Ratings cut Alaska Air Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Finally, Zacks Research downgraded Alaska Air Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.08.

Alaska Air Group Stock Down 0.8%

NYSE ALK opened at $42.00 on Wednesday. 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 cap of $4.84 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 0.80 and a beta of 1.41. The company has a 50 day moving average of $50.58 and a 200-day moving average of $51.68. Alaska Air Group, Inc. has a 1-year low of $39.79 and a 1-year high of $78.08.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 EPS 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 the consensus estimate of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.Alaska Air Group’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business earned $2.25 EPS. On average, equities research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kyle B. Levine sold 5,914 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $57.75, for a total transaction of $341,533.50. Following the completion of the sale, the senior vice president owned 20,917 shares of the company’s stock, valued at $1,207,956.75. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

About Alaska Air Group

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.