Wealthcare Advisory Partners LLC bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,619 shares of the transportation company’s stock, valued at approximately $210,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First American Trust FSB raised its stake in Alaska Air Group by 5.9% during the 1st quarter. First American Trust FSB now owns 115,236 shares of the transportation company’s stock valued at $6,684,000 after buying an additional 6,401 shares during the last quarter. Garde Capital Inc. its raised stake in Alaska Air Group by 7.4% during the 4th quarter. Garde Capital Inc. Now owns 32,605 shares of the transportation company’s stock shares valued at $1,699,000 after buying an additional 2,255 during the last quarter. Westwood Holdings Group Inc. Purchased a new stake in Alaska Air Group during the 4th quarter valued at $6,985,000. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Alaska Air Group in the 4th quarter worth $10,564,000. Finally, MidWestOne Financial Group Inc. increased its stake in shares of Alaska Air Group by 103.3% in the 4th quarter. MidWestOne Financial Group Inc. Now owns 28,189 shares of the transportation company’s stock worth $1,469,000 after purchasing an additional 14,325 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.
Shares of ALK stock opened at $40.05 on Friday. Alaska Air Group, Inc. has a 52-week low of $38.19 and a 52-week high of $63.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.87. The firm has a market capitalization of $5.05 billion, a PE ratio of 10.88 and a beta of 1.44. The stock has a fifty day simple moving average of $46.62 and a two-hundred day simple moving average of $51.70.
Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The transportation company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.58) by $0.25. Alaska Air Group had a net margin of 6.60% and a return on equity of 0.36%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned ($3.51) EPS. The business’s revenue was up 110.9% on a year-over-year basis. On average, sell-side analysts forecast that Alaska Air Group, Inc. will post 3.77 EPS for the current fiscal year.
In related news, CFO Shane R. Tackett sold 2,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $46.97, for a total value of $93,940.00. Following the completion of the transaction, the chief financial officer now owns 9,966 shares of the company’s stock, valued at approximately $468,103.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on the company. Morgan Stanley reduced their objective price on Alaska Air Group from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, March 25th. Cowen upped their objective price on Alaska Air Group from $66.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 25th. JPMorgan Chase & Co. upped their objective price on Alaska Air Group from $97.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Raymond James lowered Alaska Air Group from a “strong-buy” rating to an “outperform” rating and reduced their objective price for the stock from $75.00 to $58.00 in a research note on Thursday, June 23rd. Finally, Evercore ISI reduced their objective price on Alaska Air Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Alaska Air Group has a consensus rating of “Moderate Buy” and a consensus price target of $74.14.
About Alaska Air Group (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.
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