Alaska Air Group, Inc. (NYSE:ALK) Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in Alaska Air Group, Inc. (NYSE:ALKFree Report) by 421.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,778 shares of the transportation company’s stock after buying an additional 63,659 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Alaska Air Group worth $3,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALK. Massmutual Trust Co. FSB ADV grew its holdings in Alaska Air Group by 215.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after buying an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in 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 purchasing an additional 557 shares in the last quarter. Covestor Ltd boosted its stake in Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 458 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Alaska Air Group by 456.1% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 748 shares in the last quarter. Finally, Tucker Asset Management LLC boosted its stake in Alaska Air Group by 448.6% during the 2nd quarter. Tucker Asset Management LLC now owns 812 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 664 shares in the last quarter. 81.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALK shares. TD Cowen decreased their price target on Alaska Air Group from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. UBS Group started coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $51.00 in a research note on Tuesday, February 20th. Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.93.

Check Out Our Latest Stock Report on Alaska Air Group

Alaska Air Group Trading Down 0.4 %

Shares of ALK opened at $41.90 on Thursday. The business’s 50-day moving average price is $38.22 and its 200 day moving average price is $36.81. The stock has a market capitalization of $5.27 billion, a P/E ratio of 23.15, a P/E/G ratio of 0.83 and a beta of 1.63. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $57.18. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.53.

Alaska Air Group (NYSE:ALKGet Free Report) last released its earnings results on Thursday, January 25th. The transportation company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Alaska Air Group, Inc. will post 4.62 earnings per share for the current year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated 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 owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.

Alaska Air Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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