SeaCrest Wealth Management LLC Makes New $35,000 Investment in Alaska Air Group, Inc. (NYSE:ALK)

SeaCrest Wealth Management LLC purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALKGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 876 shares of the transportation company’s stock, valued at approximately $35,000.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Alaska Air Group by 1.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,524,651 shares of the transportation company’s stock worth $88,445,000 after purchasing an additional 27,679 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alaska Air Group by 23.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,157 shares of the transportation company’s stock worth $567,000 after purchasing an additional 2,713 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Alaska Air Group by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 57,501 shares of the transportation company’s stock worth $3,336,000 after purchasing an additional 1,254 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Alaska Air Group during the 1st quarter worth $216,000. Finally, Versor Investments LP increased its holdings in shares of Alaska Air Group by 50.2% during the 1st quarter. Versor Investments LP now owns 9,272 shares of the transportation company’s stock worth $538,000 after buying an additional 3,098 shares during the last quarter. Hedge funds and other institutional investors own 76.13% of the company’s stock.

Alaska Air Group Stock Performance

Shares of ALK opened at $46.30 on Tuesday. The business’s 50 day moving average is $43.24 and its two-hundred day moving average is $44.02. Alaska Air Group, Inc. has a 52-week low of $38.19 and a 52-week high of $61.55. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 115.75 and a beta of 1.43. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.49.

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

Wall Street Analysts Forecast Growth

ALK has been the topic of a number of research analyst reports. Cowen reduced their target price 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. Morgan Stanley dropped their target price on shares of Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Cowen reduced their price target on shares of Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Melius began coverage on shares of Alaska Air Group in a research report on Monday, August 15th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a report 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.30.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 3,275 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $45.90, for a total transaction of $150,322.50. Following the sale, the executive vice president now directly owns 10,877 shares of the company’s stock, valued at approximately $499,254.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

About Alaska Air Group

(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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