Commonwealth Equity Services LLC Sells 1,417 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Commonwealth Equity Services LLC cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,422 shares of the transportation company’s stock after selling 1,417 shares during the period. Commonwealth Equity Services LLC’s holdings in Alaska Air Group were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Avior Wealth Management LLC lifted its stake in Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in shares of Alaska Air Group in the third quarter worth approximately $45,000. True Wealth Design LLC bought a new stake in shares of Alaska Air Group during the 3rd quarter worth approximately $52,000. SBI Securities Co. Ltd. purchased a new position in Alaska Air Group during the 4th quarter valued at $52,000. Finally, Quarry LP grew its position in Alaska Air Group by 259.3% in the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 848 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Stock Down 2.3 %

NYSE:ALK opened at $52.58 on Friday. The company’s 50-day simple moving average is $66.39 and its 200-day simple moving average is $57.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The stock has a market capitalization of $6.45 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.43 and a beta of 1.50.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. On average, equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALK has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. TD Cowen boosted their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. UBS Group lowered their price target on Alaska Air Group from $87.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Finally, Citigroup reduced their price objective on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Buying and Selling

In other news, CEO Joseph A. Sprague sold 9,500 shares of Alaska Air Group stock in a transaction on Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the sale, the chief executive officer now directly owns 9,840 shares in the company, valued at approximately $677,976. The trade was a 49.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 22,893 shares of the company’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 completion of the sale, the chief financial officer now owns 31,873 shares in the company, valued at approximately $2,414,061.02. This represents a 41.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,725 shares of company stock worth $11,217,263 in the last ninety days. 0.68% of the stock is owned by 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.