Campbell & CO Investment Adviser LLC lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 32.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,350 shares of the transportation company’s stock after selling 10,041 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Alaska Air Group were worth $792,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of ALK. Point72 Asset Management L.P. increased its position in shares of Alaska Air Group by 607.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,177,794 shares of the transportation company’s stock valued at $115,815,000 after purchasing an additional 1,870,094 shares during the last quarter. LSV Asset Management increased its position in shares of Alaska Air Group by 64.9% during the 2nd quarter. LSV Asset Management now owns 3,428,416 shares of the transportation company’s stock valued at $182,323,000 after purchasing an additional 1,349,610 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Alaska Air Group during the 1st quarter valued at approximately $62,390,000. Bank of Montreal Can bought a new position in shares of Alaska Air Group during the 2nd quarter valued at approximately $43,608,000. Finally, Wellington Management Group LLP bought a new position in Alaska Air Group in the 1st quarter valued at $30,293,000. Institutional investors own 80.58% of the company’s stock.
Alaska Air Group Price Performance
Shares of ALK stock opened at $37.19 on Friday. Alaska Air Group, Inc. has a twelve month low of $30.75 and a twelve month high of $57.18. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 0.90 and a beta of 1.62. The stock has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $38.11. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53.
Wall Street Analysts Forecast Growth
ALK has been the topic of several research analyst reports. StockNews.com downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft downgraded Alaska Air Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $44.00 in a research report on Monday, December 4th. Susquehanna downgraded Alaska Air Group from a “positive” rating to a “neutral” rating and upped their price objective for the company from $39.00 to $40.00 in a research report on Wednesday, January 10th. Melius downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, TD Cowen cut their price objective on Alaska Air Group from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.43.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, operated airlines. The company operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing and Airbus jet aircraft for passengers and cargo throughout the United States, and in parts of Mexico, Costa Rica, and Belize; and for passengers across a shorter distance network within the United States and Canada.
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