Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 71.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,112 shares of the transportation company’s stock after selling 39,858 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alaska Air Group were worth $728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new stake in Alaska Air Group during the first quarter worth about $280,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Alaska Air Group by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company’s stock valued at $2,983,000 after purchasing an additional 3,652 shares in the last quarter. Comerica Bank increased its stake in Alaska Air Group by 88.0% during the 1st quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock worth $7,488,000 after buying an additional 81,533 shares during the period. Cetera Investment Advisers lifted its holdings in Alaska Air Group by 211.7% during the 1st quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock worth $2,054,000 after buying an additional 32,442 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in Alaska Air Group in the 1st quarter valued at approximately $227,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALK shares. Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. 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 research report on Monday, October 28th. Bank of America boosted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, TD Cowen lowered their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.69.

Alaska Air Group Stock Down 0.5 %

Alaska Air Group stock opened at $52.68 on Friday. The company has a market capitalization of $6.69 billion, a P/E ratio of 21.24, a PEG ratio of 1.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.14. The stock has a 50-day simple moving average of $47.18 and a 200-day simple moving average of $41.88.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm posted $1.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts expect that Alaska Air Group, Inc. will post 4.26 earnings per share 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.