Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,779 shares of the transportation company’s stock after selling 1,850 shares during the period. Truist Financial Corp’s holdings in Alaska Air Group were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALK. Avior Wealth Management LLC lifted its position in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares in the last quarter. Pacific Center for Financial Services acquired a new position in shares of Alaska Air Group during the third quarter worth $45,000. Venturi Wealth Management LLC lifted its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Alaska Air Group during the third quarter worth $52,000. Finally, Quarry LP lifted its position in shares of Alaska Air Group by 259.3% during the third quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after purchasing an additional 848 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen boosted their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley boosted their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price on the stock in a research report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,600 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the transaction, the executive vice president now owns 34,030 shares in the company, valued at approximately $2,595,808.40. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the transaction, the chief financial officer now owns 27,362 shares of the company’s stock, valued at $1,739,128.72. This represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,198 shares of company stock worth $13,415,604. Insiders own 0.68% of the company’s stock.

Alaska Air Group Stock Down 3.4 %

ALK stock opened at $69.81 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The firm has a fifty day moving average price of $70.09 and a two-hundred day moving average price of $55.12. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.43 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Alaska Air Group 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.