Advisors Asset Management Inc. Decreases Position in Alaska Air Group, Inc. (NYSE:ALK)

Advisors Asset Management Inc. cut its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 18.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,703 shares of the transportation company’s stock after selling 862 shares during the period. Advisors Asset Management Inc.’s holdings in Alaska Air Group were worth $167,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALK. Raymond James & Associates lifted its stake in shares of Alaska Air Group by 13.5% in the 2nd quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock valued at $11,457,000 after acquiring an additional 33,717 shares during the last quarter. Entropy Technologies LP increased its stake in Alaska Air Group by 358.9% in the 3rd quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company’s stock worth $1,240,000 after purchasing an additional 21,451 shares during the period. Comerica Bank lifted its position in Alaska Air Group by 88.0% in the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock valued at $7,488,000 after purchasing an additional 81,533 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Alaska Air Group by 211.7% during the first quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock valued at $2,054,000 after purchasing an additional 32,442 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after purchasing an additional 220,030 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Down 0.2 %

NYSE:ALK opened at $52.60 on Friday. Alaska Air Group, Inc. has a 1-year low of $32.00 and a 1-year high of $54.14. The company has a market capitalization of $6.68 billion, a PE ratio of 21.26, a P/E/G ratio of 1.20 and a beta of 1.59. The firm’s 50-day moving average price is $47.44 and its 200-day moving average price is $41.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts predict that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI dropped 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. TD Cowen dropped their target price 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. Susquehanna boosted their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. UBS Group reaffirmed a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday. Finally, Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.69.

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.