Envestnet Asset Management Inc. Boosts Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Envestnet Asset Management Inc. grew its stake in shares of Alaska Air Group, Inc. (NYSE:ALKGet Rating) by 10.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,269 shares of the transportation company’s stock after buying an additional 4,277 shares during the period. Envestnet Asset Management Inc.’s holdings in Alaska Air Group were worth $1,813,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Covestor Ltd lifted its holdings in Alaska Air Group by 416.4% in the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares in the last quarter. Charter Oak Capital Management LLC purchased a new position in Alaska Air Group in the 2nd quarter worth approximately $30,000. Quadrant Capital Group LLC lifted its holdings in Alaska Air Group by 34.0% in the 1st quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company’s stock worth $53,000 after purchasing an additional 231 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Alaska Air Group by 41.0% in the 2nd quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock worth $37,000 after purchasing an additional 267 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Alaska Air Group by 26.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,332 shares of the transportation company’s stock worth $53,000 after purchasing an additional 277 shares in the last quarter. 76.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley lowered their price target on Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Cowen lowered their price target on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Cowen reduced their price objective on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Melius assumed coverage on Alaska Air Group in a research note on Monday, August 15th. They issued a “buy” rating on the stock. Finally, StockNews.com raised Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $64.30.

Alaska Air Group Stock Performance

NYSE ALK opened at $46.68 on Friday. The company has a market cap of $5.92 billion, a P/E ratio of 116.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.79 and a current ratio of 0.81. The business’s 50 day moving average price is $43.25 and its 200-day moving average price is $44.12. Alaska Air Group, Inc. has a fifty-two week low of $38.19 and a fifty-two week high of $61.55.

Alaska Air Group (NYSE:ALKGet Rating) last released its earnings results on Thursday, October 20th. The transportation company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.14. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Alaska Air Group had a return on equity of 12.45% and a net margin of 0.60%. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS. Sell-side analysts predict that Alaska Air Group, Inc. will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 3,275 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $45.90, for a total value of $150,322.50. Following the transaction, the executive vice president now owns 10,877 shares of the company’s stock, valued at approximately $499,254.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

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.

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

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