Merit Financial Group LLC Raises Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Merit Financial Group LLC grew its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 28.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,513 shares of the transportation company’s stock after acquiring an additional 2,128 shares during the quarter. Merit Financial Group LLC’s holdings in Alaska Air Group were worth $468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new stake in Alaska Air Group during the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new position in Alaska Air Group during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC boosted its position in Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after acquiring an additional 364 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth $76,000. Finally, Parallel Advisors LLC raised its stake in shares of Alaska Air Group by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company’s stock worth $96,000 after buying an additional 464 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna cut their target price on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. Bank of America decreased their price target on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. increased their target price on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. UBS Group downgraded Alaska Air Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $54.00 in a research report on Monday, April 7th. Finally, Barclays cut their target price on Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $51.59 on Wednesday. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. The stock’s fifty day moving average price is $48.46 and its two-hundred day moving average price is $58.37. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. The firm has a market cap of $6.33 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.92) EPS. As a group, research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the transaction, the vice president now directly owns 8,253 shares in the company, valued at approximately $423,709.02. This represents a 26.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the transaction, the executive vice president now owns 26,530 shares of the company’s stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,479 shares of company stock valued at $554,228. 1.00% of the stock is currently owned by corporate insiders.

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.