Commonwealth Equity Services LLC Trims Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Commonwealth Equity Services LLC trimmed its holdings in Alaska Air Group, Inc. (NYSE:ALKGet Rating) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,430 shares of the transportation company’s stock after selling 724 shares during the period. Commonwealth Equity Services LLC owned approximately 0.08% of Alaska Air Group worth $5,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALK. Millennium Management LLC boosted its holdings in Alaska Air Group by 44.7% in the 4th quarter. Millennium Management LLC now owns 2,194,202 shares of the transportation company’s stock valued at $114,318,000 after purchasing an additional 678,268 shares during the period. Invesco Ltd. boosted its holdings in Alaska Air Group by 28.2% in the 4th quarter. Invesco Ltd. now owns 2,290,015 shares of the transportation company’s stock valued at $119,310,000 after purchasing an additional 503,198 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Alaska Air Group by 3,061.3% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 455,075 shares of the transportation company’s stock valued at $26,399,000 after purchasing an additional 440,680 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Alaska Air Group by 1,396.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 469,059 shares of the transportation company’s stock valued at $27,210,000 after purchasing an additional 437,707 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Alaska Air Group in the 4th quarter valued at $22,445,000. 72.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,267 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $44.13, for a total value of $100,042.71. Following the transaction, the executive vice president now owns 14,152 shares in the company, valued at $624,527.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Shane R. Tackett sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $46.97, for a total transaction of $93,940.00. Following the transaction, the chief financial officer now owns 9,966 shares in the company, valued at $468,103.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew R. Harrison sold 2,267 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $44.13, for a total transaction of $100,042.71. Following the transaction, the executive vice president now owns 14,152 shares in the company, valued at approximately $624,527.76. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $46.30 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.84 billion, a PE ratio of 28.58 and a beta of 1.46. The firm has a fifty day simple moving average of $43.18 and a two-hundred day simple moving average of $49.93. Alaska Air Group, Inc. has a twelve month low of $38.19 and a twelve month high of $63.76.

Alaska Air Group (NYSE:ALKGet Rating) last released its quarterly earnings data on Thursday, July 21st. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.24. Alaska Air Group had a net margin of 2.54% and a return on equity of 8.97%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the company earned ($0.30) earnings per share. The company’s revenue for the quarter was up 74.1% compared to the same quarter last year. Research analysts expect that Alaska Air Group, Inc. will post 4.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI cut their price target on shares of Alaska Air Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Barclays dropped their price objective on shares of Alaska Air Group from $61.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of Alaska Air Group from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. StockNews.com raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Finally, Susquehanna dropped their price objective on shares of Alaska Air Group from $68.00 to $50.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Alaska Air Group Company Profile

(Get Rating)

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

Further Reading

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

Want More Great Investing Ideas?

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.