Alaska Air Group, Inc. (NYSE:ALK) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,593,756 shares of the transportation company’s stock after purchasing an additional 6,977 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.26% of Alaska Air Group worth $72,054,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC grew its stake in Alaska Air Group by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock worth $460,000 after purchasing an additional 215 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after acquiring an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Alaska Air Group by 4.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 267 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Alaska Air Group by 3.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 309 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alaska Air Group by 5.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock worth $326,000 after purchasing an additional 439 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALK. Citigroup lowered their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Susquehanna increased their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Price Performance

Shares of ALK opened at $52.42 on Monday. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $54.01. The stock’s fifty day moving average is $46.44 and its 200-day moving average is $41.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. Equities analysts anticipate that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

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.