Truist Financial Corp Trims Position in Alaska Air Group, Inc. (NYSE:ALK)

Truist Financial Corp decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALKGet Rating) by 14.3% during the third quarter, Holdings Channel reports. The institutional investor owned 16,478 shares of the transportation company’s stock after selling 2,755 shares during the period. Truist Financial Corp’s holdings in Alaska Air Group were worth $645,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Belpointe Asset Management LLC raised its holdings in Alaska Air Group by 10.5% during the second quarter. Belpointe Asset Management LLC now owns 2,758 shares of the transportation company’s stock valued at $110,000 after acquiring an additional 263 shares during the period. Crewe Advisors LLC raised its holdings in Alaska Air Group by 41.0% during the second quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 267 shares during the period. Parallel Advisors LLC raised its holdings in Alaska Air Group by 26.3% during the second quarter. Parallel Advisors LLC now owns 1,332 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 277 shares during the period. Cibc World Market Inc. raised its holdings in Alaska Air Group by 0.6% during the second quarter. Cibc World Market Inc. now owns 50,116 shares of the transportation company’s stock valued at $2,007,000 after acquiring an additional 292 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Alaska Air Group by 19.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 300 shares during the period. Institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

ALK has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Alaska Air Group in a report on Friday, December 16th. They set a “buy” rating and a $60.00 price target on the stock. StockNews.com cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Friday, January 6th. Barclays raised their price target on Alaska Air Group from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, January 11th. Raymond James raised their price objective on Alaska Air Group from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, January 5th. Finally, Cowen cut their price objective on Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.75.

Alaska Air Group Trading Up 0.9 %

ALK opened at $49.82 on Monday. The firm has a market cap of $6.32 billion, a P/E ratio of 124.55 and a beta of 1.43. Alaska Air Group, Inc. has a 12 month low of $38.19 and a 12 month high of $61.55. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $45.69 and a 200 day moving average of $44.40.

Alaska Air Group (NYSE:ALKGet Rating) last released its quarterly earnings results on Thursday, October 20th. The transportation company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.41 by $0.12. The company had revenue of $2.83 billion during 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%. The firm’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. As a group, research analysts forecast that Alaska Air Group, Inc. will post 4.3 EPS for the current year.

Alaska Air Group 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.

See Also

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

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