Quest Partners LLC Boosts Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Quest Partners LLC grew its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1,531,200.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,313 shares of the transportation company’s stock after acquiring an additional 15,312 shares during the quarter. Quest Partners LLC’s holdings in Alaska Air Group were worth $692,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALK. O Shaughnessy Asset Management LLC acquired a new position in shares of Alaska Air Group in the 1st quarter valued at $280,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alaska Air Group by 2.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 97,752 shares of the transportation company’s stock worth $4,200,000 after purchasing an additional 2,726 shares during the period. Capital Research Global Investors acquired a new position in shares of Alaska Air Group in the 1st quarter valued at about $36,993,000. Price T Rowe Associates Inc. MD grew its stake in Alaska Air Group by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company’s stock worth $2,983,000 after buying an additional 3,652 shares during the period. Finally, Appian Way Asset Management LP purchased a new position in shares of Alaska Air Group in the first quarter valued at $2,640,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

Shares of NYSE:ALK opened at $52.42 on Friday. The company has a market cap of $6.65 billion, a PE ratio of 21.14, a P/E/G ratio of 1.21 and a beta of 1.59. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.01. The firm has a 50-day simple moving average of $46.44 and a 200 day simple moving average of $41.69. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last posted 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 company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALK. Bank of America boosted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Cowen reduced their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Finally, Evercore ISI decreased their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Three research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $57.31.

Alaska Air Group Company Profile

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.