Legacy Advisors LLC purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,042 shares of the transportation company’s stock, valued at approximately $211,000.
Other large investors have also recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of Alaska Air Group by 41.9% during the 3rd quarter. Morgan Stanley now owns 790,015 shares of the transportation company’s stock worth $28,938,000 after buying an additional 233,167 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Alaska Air Group during the 4th quarter worth $4,103,000. Renaissance Investment Group LLC boosted its position in Alaska Air Group by 149.9% during the 1st quarter. Renaissance Investment Group LLC now owns 77,390 shares of the transportation company’s stock worth $5,356,000 after purchasing an additional 46,416 shares during the period. CWM LLC boosted its position in Alaska Air Group by 174.0% during the 4th quarter. CWM LLC now owns 1,000 shares of the transportation company’s stock worth $52,000 after purchasing an additional 635 shares during the period. Finally, U S Global Investors Inc. boosted its position in Alaska Air Group by 38.9% during the 4th quarter. U S Global Investors Inc. now owns 2,371,106 shares of the transportation company’s stock worth $123,298,000 after purchasing an additional 664,355 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on ALK. The Goldman Sachs Group upped their price objective on shares of Alaska Air Group from $64.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, March 22nd. Morgan Stanley upgraded Alaska Air Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $49.00 to $90.00 in a research report on Tuesday, April 6th. Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “sell” rating and set a $75.00 price objective for the company. in a research note on Monday, March 22nd. Susquehanna Bancshares upped their price objective on Alaska Air Group from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.43.
Shares of ALK traded down $1.53 during midday trading on Monday, reaching $71.10. 10,977 shares of the stock were exchanged, compared to its average volume of 1,872,176. Alaska Air Group, Inc. has a 12-month low of $23.39 and a 12-month high of $74.25. The firm has a 50 day simple moving average of $67.54 and a 200-day simple moving average of $52.35. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a market cap of $8.84 billion, a price-to-earnings ratio of -12.90 and a beta of 1.81.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Monday, January 25th. The transportation company reported ($2.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.91) by $0.36. Alaska Air Group had a negative return on equity of 19.39% and a negative net margin of 13.96%. The company had revenue of $808.00 million during the quarter, compared to the consensus estimate of $813.37 million. During the same period last year, the business earned $1.46 EPS. The business’s quarterly revenue was down 63.7% on a year-over-year basis. Research analysts expect that Alaska Air Group, Inc. will post -10.43 earnings per share for the current fiscal year.
In other news, insider Benito Minicucci sold 14,402 shares of the stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $66.82, for a total transaction of $962,341.64. Following the transaction, the insider now owns 102,791 shares of the company’s stock, valued at approximately $6,868,494.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bradley D. Tilden sold 23,360 shares of the stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $66.82, for a total value of $1,560,915.20. Following the transaction, the chief executive officer now directly owns 181,153 shares in the company, valued at approximately $12,104,643.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,425 shares of company stock worth $3,448,908. 0.47% of the stock is currently owned by insiders.
Alaska Air Group Profile
Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.
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