Pictet Asset Management SA lowered its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 24.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 76,479 shares of the transportation company’s stock after selling 24,534 shares during the period. Pictet Asset Management SA’s holdings in Alaska Air Group were worth $3,063,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Covestor Ltd grew its stake in Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares during the period. Charter Oak Capital Management LLC acquired a new stake in Alaska Air Group during the second quarter worth approximately $30,000. SeaCrest Wealth Management LLC acquired a new stake in Alaska Air Group during the second quarter worth approximately $35,000. Quadrant Capital Group LLC grew its stake in Alaska Air Group by 34.0% during the first quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company’s stock worth $53,000 after purchasing an additional 231 shares during the period. Finally, Crewe Advisors LLC grew its stake in Alaska Air Group by 41.0% during the second quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock worth $37,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 76.13% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on ALK. Cowen decreased their target price on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. Morgan Stanley cut 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 cut 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. StockNews.com upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 1st. Finally, Melius assumed coverage on Alaska Air Group in a report on Monday, August 15th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.30.
Insider Buying and Selling
Alaska Air Group Stock Up 1.7 %
ALK stock opened at $46.68 on Monday. Alaska Air Group, Inc. has a twelve month low of $38.19 and a twelve month high of $61.55. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $43.25 and its 200-day moving average is $44.06. The firm has a market capitalization of $5.92 billion, a PE ratio of 116.70 and a beta of 1.43.
Alaska Air Group (NYSE:ALK – Get Rating) last issued its quarterly earnings results on Thursday, October 20th. The transportation company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.14. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. Alaska Air Group had a return on equity of 12.45% and a net margin of 0.60%. Alaska Air Group’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Sell-side analysts expect that Alaska Air Group, Inc. will post 4.36 EPS for the current fiscal year.
Alaska Air Group Company Profile
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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