Bank of New York Mellon Corp Sells 126,037 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Bank of New York Mellon Corp trimmed its position in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 821,114 shares of the transportation company’s stock after selling 126,037 shares during the period. Bank of New York Mellon Corp’s holdings in Alaska Air Group were worth $32,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its holdings in Alaska Air Group by 78.2% in the first quarter. Private Advisor Group LLC now owns 9,980 shares of the transportation company’s stock valued at $579,000 after acquiring an additional 4,379 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Alaska Air Group by 23.6% during the first quarter. MetLife Investment Management LLC now owns 34,204 shares of the transportation company’s stock valued at $1,984,000 after buying an additional 6,520 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Alaska Air Group by 7.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,847 shares of the transportation company’s stock worth $977,000 after buying an additional 1,119 shares in the last quarter. APG Asset Management N.V. purchased a new stake in Alaska Air Group in the first quarter worth about $980,000. Finally, Great West Life Assurance Co. Can lifted its holdings in Alaska Air Group by 3.4% in the first quarter. Great West Life Assurance Co. Can now owns 17,972 shares of the transportation company’s stock worth $1,077,000 after buying an additional 592 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 1,596 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $50.81, for a total transaction of $81,092.76. Following the transaction, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALK has been the subject of several research reports. Citigroup increased their target price on Alaska Air Group from $57.50 to $58.50 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Morgan Stanley increased their price objective on Alaska Air Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. Barclays upgraded shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $62.00 in a research note on Friday. The Goldman Sachs Group started coverage on shares of Alaska Air Group in a research note on Friday, December 16th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wolfe Research downgraded shares of Alaska Air Group from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 27th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and an average price target of $65.05.

Alaska Air Group Trading Down 4.4 %

Shares of NYSE:ALK opened at $44.08 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.65. Alaska Air Group, Inc. has a 1 year low of $38.19 and a 1 year high of $61.55. The company has a market cap of $5.62 billion, a P/E ratio of 102.51, a PEG ratio of 0.40 and a beta of 1.54. The stock’s fifty day moving average price is $48.92 and its 200-day moving average price is $45.71.

Alaska Air Group (NYSE:ALK – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Alaska Air Group had a net margin of 0.60% and a return on equity of 14.75%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. Sell-side analysts expect that Alaska Air Group, Inc. will post 5.99 earnings per share for the current year.

Alaska Air Group Profile

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.