Meeder Asset Management Inc. Reduces Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Meeder Asset Management Inc. lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,118 shares of the transportation company’s stock after selling 9,751 shares during the period. Meeder Asset Management Inc.’s holdings in Alaska Air Group were worth $1,814,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Interval Partners LP raised its position in Alaska Air Group by 100.0% during the first quarter. Interval Partners LP now owns 80,000 shares of the transportation company’s stock worth $3,439,000 after acquiring an additional 40,000 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Alaska Air Group during the 1st quarter worth approximately $36,993,000. Raymond James & Associates grew its position in shares of Alaska Air Group by 13.5% in the second quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock valued at $11,457,000 after purchasing an additional 33,717 shares during the period. Boston Partners increased its stake in Alaska Air Group by 4.1% in the first quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock valued at $170,533,000 after purchasing an additional 155,403 shares during the last quarter. Finally, Comerica Bank lifted its position in Alaska Air Group by 88.0% during the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock worth $7,488,000 after buying an additional 81,533 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALK. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Evercore ISI decreased their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Susquehanna increased their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $52.86 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The company has a market cap of $6.71 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.22 and a beta of 1.59. The firm has a fifty day moving average price of $45.44 and a two-hundred day moving average price of $41.40. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.01.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 EPS. Analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

About Alaska Air Group

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.