Verdence Capital Advisors LLC Has $460,000 Position in Alaska Air Group, Inc. (NYSE:ALK)

Verdence Capital Advisors LLC raised its position in Alaska Air Group, Inc. (NYSE:ALK) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,180 shares of the transportation company’s stock after acquiring an additional 215 shares during the period. Verdence Capital Advisors LLC’s holdings in Alaska Air Group were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group in the second quarter worth about $28,000. Pacifica Partners Inc. increased its stake in Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Alaska Air Group in the 3rd quarter valued at $67,000. Canada Pension Plan Investment Board acquired a new position in shares of Alaska Air Group during the second quarter worth about $69,000. Finally, Halpern Financial Inc. acquired a new position in Alaska Air Group during the 2nd quarter worth approximately $81,000. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Up 1.6 %

ALK opened at $51.84 on Tuesday. The firm’s fifty day moving average is $43.93 and its 200 day moving average is $41.07. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $52.19. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.15 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 (NYSE:ALK) last released its quarterly earnings data 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 business had revenue of $3.07 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 earnings per share. On average, sell-side analysts forecast that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays initiated coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Morgan Stanley decreased their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Susquehanna raised their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup cut their target price on 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. Finally, TD Cowen decreased their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.17.

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.