Summit Global Investments Has $380,000 Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Summit Global Investments reduced its position in Alaska Air Group, Inc. (NYSE:ALK) by 79.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,714 shares of the transportation company’s stock after selling 37,511 shares during the period. Summit Global Investments’ holdings in Alaska Air Group were worth $380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors L.P. acquired a new stake in Alaska Air Group during the fourth quarter worth approximately $707,000. Brighton Jones LLC boosted its stake in Alaska Air Group by 523.7% in the 4th quarter. Brighton Jones LLC now owns 38,948 shares of the transportation company’s stock valued at $1,522,000 after purchasing an additional 32,703 shares during the period. Russell Investments Group Ltd. grew its holdings in Alaska Air Group by 10.3% in the 4th quarter. Russell Investments Group Ltd. now owns 638,651 shares of the transportation company’s stock valued at $24,952,000 after buying an additional 59,753 shares in the last quarter. Bailard Inc. increased its position in Alaska Air Group by 7.4% during the 4th quarter. Bailard Inc. now owns 21,449 shares of the transportation company’s stock worth $838,000 after buying an additional 1,472 shares during the period. Finally, Alaska Permanent Fund Corp lifted its holdings in shares of Alaska Air Group by 6.6% during the fourth quarter. Alaska Permanent Fund Corp now owns 51,072 shares of the transportation company’s stock worth $1,995,000 after buying an additional 3,172 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

NYSE ALK opened at $42.68 on Monday. The firm’s fifty day moving average price is $40.83 and its two-hundred day moving average price is $37.91. The stock has a market cap of $5.37 billion, a PE ratio of 22.82, a PEG ratio of 0.57 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65. Alaska Air Group, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $57.18.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. Alaska Air Group’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.62) EPS. On average, equities analysts expect that Alaska Air Group, Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALK has been the subject of several analyst reports. Susquehanna lifted their price objective on shares of Alaska Air Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Evercore ISI increased their target price on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. StockNews.com upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $51.00 in a research report on Tuesday, February 20th. Finally, Melius lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Four equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

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.