Institute for Wealth Management LLC. Acquires 789 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Institute for Wealth Management LLC. grew its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,803 shares of the transportation company’s stock after acquiring an additional 789 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Alaska Air Group were worth $422,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALK. Massmutual Trust Co. FSB ADV boosted its position in shares of Alaska Air Group by 215.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 520 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Alaska Air Group by 255.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 557 shares during the last quarter. Covestor Ltd lifted its position in Alaska Air Group by 416.4% in the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after buying an additional 458 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Alaska Air Group by 456.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after buying an additional 748 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Alaska Air Group by 63.4% in the 3rd quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock worth $48,000 after buying an additional 503 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

ALK has been the subject of a number of recent research reports. Melius downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI boosted their target price on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Susquehanna boosted their target price on Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. Finally, StockNews.com upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.85.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.68% of the company’s stock.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $45.01 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.58. The business’s 50 day simple moving average is $39.68 and its two-hundred day simple moving average is $37.23. The stock has a market capitalization of $5.66 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. Alaska Air Group, Inc. has a one year low of $30.75 and a one year high of $57.18.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned ($0.62) earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Alaska Air Group, Inc. will post 4.41 EPS for the current year.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.